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Kachukwu: Nigeria has lost US oil export market forever

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Ibe Kachikwu

 

The minister of state for petroleum resources,Ibe Kachikwu, has stated that  Nigeria has forever lost the United States as a significant crude export market. Naija News Learnt

according to the US Energy Information Administration, Up until 2013, the US was Nigeria’s top crude importer, buying around 700,000 b/d of the commodity from Africa’s biggest producer,This volume has, however, been dropping since then, reaching zero import level by June 2015 following a surge in production of shale oil.

Kachikwu  who made this known to Naija News said at CERAWeek in Houston, USA.said “That’s gone,”

CERAWeek conference continues outreach between the Organization of the Petroleum Exporting Countries (OPEC) and shale producers.

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