Exports of four main Nigerian crude oil grades in February are set to average about 657,000 barrels per day (bpd), according to preliminary programmes, down slightly from the previous month.
The scheduled loadings of Bonny Light, Bonga, Qua Iboe and Forcados crude oil streams stood at 792,000 bpd for January, according to Reuters calculations.
Between April and June 2023, Nigeria exported some 5.6 trillion Nigerian naira (NGN) of crude oil, roughly seven billion U.S. dollars. Europe and Asia are Nigeria’s main trade partners for crude oil exports. In the fourth quarter of 2023, crude oil exported to Europe amounted to about 2.64 trillion NGN, while exports to Asia followed with around 1.2 trillion NGN. Overall, the exports of crude oil.
Reuters/Daily Review Online