Reports made available by the Nigerian National Petroleum Corporation (NNPC) show that Croatia, Benin Republic and Japan have not purchased crude oil from Nigeria since 2015.
In the case of Japan, it has not purchased Nigerian crude since 2014.
In total, 14 countries did not buy Nigerian crude throughout 2017.
TheCable had reported in 2017 that 13 countries including Norway, Poland, Colombia, Japan and Tunisia had not purchased Nigerian crude since 2016.
A look at the latest crude oil export by destination report showed that Norway and Poland – all Western European countries – did not purchase Nigeria’s crude in the period under review.
In Oceania, New Zealand, Solomon Island and the Isle of Man did not buy Nigeria’s crude, while in the Americas, Panama, Venezuela, Chile and Colombia did not make a purchase in 2017.
The report showed that Japan was the sole country who did not purchase Nigeria’s crude in the whole of Asia and the Far East while in Africa, Tunisia and the Gulf of Guinea in addition to Cotonou in Benin Republic also did not make purchases.
EUROPE- NIGERIA’S LARGEST CRUDE CUSTOMER
Assessing the volume of crude oil bought in the various regions, Western Europe recorded the highest figures, buying a total of 252.4 million barrels in the review period.
Out of that amount, Spain, Netherlands and France bought a 66.5 million, 59.9 million, and 46.8 million barrels of crude respectively.
A total of 659.8 million barrels of crude oil was sold to the 49 countries represented in the report.
The Foreign Trade in Goods fourth quarter (Q4) 2017 report by the National Bureau of Statistics showed that exports in Q4 2017 were oil dependent leading to trade surplus.
Crude oil exports yielded N3.2 billion in revenue, accounting for 83.2% of total exports in that quarter.