Business U.S. Refineries Resume Lifting Of Crude Oil From Nigeria


Temitope Akinola
The United States has finally resumed the importation of crude oil from Nigeria, trading sources says.

Two Nigerian grades, including at least two cargoes of flagship crude Qua Iboe as well as Bonga, were said to be heading to US east coast refineries as well as the US Gulf Coast.

“It is bits and pieces, not massive flows,” one crude trader told US-based energy publication, Platts.

A cargo of Nigerian crude is heading over regularly to the Delta Airlines refinery in Trainer, Pennsylvania, while Philadephia Energy Solutions (PES) was also heard to have bought from Nigeria, including an end-September loading cargo of Bonga and, potentially, a cargo of Qua Iboe.

Shipping fixtures seen by Platts showed PES, Exxon and Statoil chartering vessels to take West African barrels to the US for end-September loading cargoes, and traders have said Vitol’s October 3-4 loading Qua Iboe cargo was also heading to the US.

The United States has been a major importer of Nigeria's crude oil until July 2014 when demands began to drop and then to zero level at the close of 2014. This was a result of increased shale oil production in the U.S.



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