- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
US became net exporter of crude to Nigeria for the first time, EIA says
Posted on 7/23/25 at 9:50 am
Posted on 7/23/25 at 9:50 am
quote:
July 22 (Reuters) - The United States became a net exporter of crude oil to Nigeria in February and March, as crude demand on the U.S. East Coast slowed due to refinery maintenance and the Dangote refinery drove up Nigeria's demand for inputs, the U.S. Energy Information Administration said in a note on Tuesday.
This is the first time that the U.S. has exported more crude oil to Nigeria than it imported. Nigeria is generally considered a source for U.S. crude oil imports, ranking ninth last year.
Nigeria's Dangote oil refinery – the largest in Africa, located on the outskirts of Lagos – began processing crude in January 2024 after years of delays. The refinery is set to reach full capacity of 650,000 b/d this year, according to the EIA.
quote:
"The new refinery in Nigeria and some issues in securing domestic supplies played a role for those unique flows earlier this year. But going forward, with the refinery now aiming to secure domestic flows, and probably looking at other crude grades, it is difficult to forecast if the volume flowing from the U.S. to Nigeria will persist," agreed Giovanni Staunovo, an analyst at UBS.
LINK
Interesting. Probably just my shear ignorance on this subject, but I would have not guessed us as a net importer of oil with Nigeria, especially as our domestic production and exports have exploded over the past decade.
5
Posted on 7/23/25 at 9:52 am to ragincajun03
I'm admitted ignorant as hell here, but why would we export and import Crude to the same country? Seems like a waste to send it back and forth.
Posted on 7/23/25 at 9:54 am to baldona
Simple elementary explanation is certain refineries wanting certain grades of oil for their processes.
There’s a couple much more knowledgeable downstream and processing posters here who can give a good explanation.
There’s a couple much more knowledgeable downstream and processing posters here who can give a good explanation.
Posted on 7/23/25 at 9:58 am to ragincajun03
It’s crazy that they huff that much gas over there
Posted on 7/23/25 at 10:03 am to baldona
quote:
I'm admitted ignorant as hell here, but why would we export and import Crude to the same country? Seems like a waste to send it back and forth.
Our refineries are built for specific crudes for starters.
If anyone is interested, research hot-tapping in Nigeria. It's amazing. Dudes on bikes will set up makeshift refineries on the side of the road to make gasoline and other distillates.
Of course they trash their own communities in the process but they dgaf.
Posted on 7/23/25 at 10:04 am to ragincajun03
Hopefully they aren't paying in naira
Posted on 7/23/25 at 10:05 am to idlewatcher
quote:
Our refineries are built for specific crudes for starters.
But wouldn't it make sense for Nigerian refineries to be set up for Nigerian crude?
I get sending some to the US for specialization, just seems odd we would also send some there.
Posted on 7/23/25 at 10:16 am to baldona
We have many different levels of refineries. Newer or upgraded Crude Units can take more "trash" (not sure of the proper term) crude than older Crude Units.
Posted on 7/23/25 at 10:34 am to ragincajun03
My funny story from Nigeria. I drilled a short radius well there for Shell. Vertical to 90 degrees in 100 feet. We ended up landing in the water contact at 93 degrees inclination. The Shell DEs asked me how much TVD I would go down if I dropped it to 92 degrees. I thought my explanation was quite detailed when I told them "none". Their next question was "then how much TVD will we do down if we drop to 91 degrees "? 
Posted on 7/23/25 at 10:48 am to baldona
quote:
I'm admitted ignorant as hell here, but why would we export and import Crude to the same country? Seems like a waste to send it back and forth.
Different types of crude. Most of our refinery infrastructure is still set up for heavy crude that we used to produce. Most of the crude from the US is light sweet oil.
This post was edited on 7/23/25 at 10:51 am
Posted on 7/23/25 at 10:59 am to ragincajun03
If selling to the Nigerian National Petroleum Company, NNPC, get paid in advance before your tanker leaves the States. Really, any Nigerian based company.
Except for Equatorial Guinea's dictator who is stealing the country blind, one of the most corrupt oil producers in West Africa. I don't know how Shell (has a large pretense there) has dealt with it all these years.
Angola's excuse one year is they spent all their money on new soccer stadiums instead of paying BP and other partners. Turns out it was true.
Except for Equatorial Guinea's dictator who is stealing the country blind, one of the most corrupt oil producers in West Africa. I don't know how Shell (has a large pretense there) has dealt with it all these years.
Angola's excuse one year is they spent all their money on new soccer stadiums instead of paying BP and other partners. Turns out it was true.
Posted on 7/23/25 at 11:02 am to aubiecat
quote:
Different types of crude. Most of our refinery infrastructure is still set up for heavy crude that we used to produce. Most of the crude from the US is light sweet oil.
So then arguably this story would be a nothing burger? I mean that's like saying that we are a net positive on sending corn to Nigeria, except they produce a different type of corn.
Or am I missing something?
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News