AS US SHUTS ITS DOOR ON NIGERIA’S OIL EXPORTS

Nigeria has become the first country to completely stop selling oil to the United States of America, the world’s largest oil producer and consumer, due to the impact of the shale revolution – an astounding reversal – as the country was only four years ago one of the top five oil suppliers to America.

According to the US Department of Energy, Nigeria did not export a single barrel of crude to US-based refiners in July for the first time since records started in 1973.

Read more @ Thisday Live

FOR THE FIRST TIME, US SHUNS NIGERIA’S OIL

The search for alternative energy by the Barack Obama administration in the United States of America (USA) has begun to take a toll on Nigeria’s crude oil export as the US for the first time failed to import a single barrel of crude oil from Nigeria.

This troubling scenario experienced in the month of July, according to industry watchers, may spell doom for the Nigerian economy.

Read more @ Leadership