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US stops importing crude oil from Nigeria

by ChemOrbis Editorial Team -
  • 21/04/2015 (11:10)
According to the recent media reports, the United States government has totally halted their oil imports from Nigeria as they highlighted the need for the federal government to aggressively diversify the economy.

Nigeria was the fifth largest oil exporter to the US, providing around 10% of US oil needs in 2010. However, Nigeria’s ranking as an oil exporter to the US started to step back as a result of shale oil production in America, which lessened the country’s need for crude oil imports. As of 2014, Nigerian oil exports to US had dramatically fallen.

Recently, the US government has officially confirmed stopping their crude oil imports from Nigeria completely, according to reports. Because of this decision, 2015 will be the first year that Nigeria will not sell any crude oil to US since 1973, when records first started to be kept.
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