Thursday 27 August 2015

NIGERIA FACES DECLINE IN OIL DEMAND FROM EUROPE

Nigeria faces decline in oil demand from EuropeNigeri's plan to increase its crude oil export in October may suffer setback as European refinery maintenance is expected to peak in that month, limiting the amount of crude oil they consume.
 
Europe, which is Nigeria’s biggest regional market, has increased its import of Nigerian crude in recent times, partly offsetting the county’s loss of the United States as a key buyer. In 2014, 45 per cent of Nigerian crude exports went to Europe, according to the US Energy Information Administration.
 

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