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Nigeria Loses Crude Oil Export Destination To US
Nigeria is fast losing its favourite oil export destinations to the United States (U.S.), which used to be the country’s biggest importer of crude blend. The Nigerian National Petroleum Corporation (NNPC) crude oil export destination report, confirmed that China, Peru, and Japan have totally stopped importing crude oil from Nigeria.
Other countries like The Netherlands, United Kingdom (U.K.), China, Italy, and Switzerland are also importing from the U.S. Latest Energy Information Administration (EIA), report also showed that these countries have continued to maintain a healthy import profile with the U.S.
Given the glut in the global oil market, Nigeria may be hard-pressed securing new destinations for its crude. Already, the initial heat from the oil producers’ production freeze is wearing, and oil prices are beginning to shed weight, but Nigeria will remain healthy for as long as prices don’t fall below the 2017 budget benchmark of $44.5/barrel.
Commenting on the development, a former President, Nigerian Association of Petroleum Explorationists (NAPE), Nosa Omorodion, said: “The current realities make it most imperative for our local refining capacity for petroleum products to be up scaled.
“No economy can thrive with the complexion of Nigeria’s Energy Trade Balance. Nigeria currently maintains an economically unsustainable negative net energy trade balance in which the country exports virtually all the crude oil produced and imports a substantial part of its refined petroleum products needs while under-utilising other energy sources like bitumen, coal, lignite and shale oil.”
Speaking at a forum recently in Lagos, an Assistant Director in the Department of Petroleum Resources (DPR), Wole Akinyosoye, noted that for every barrel of crude Nigeria exports, it is equally exporting employment opportunities, stable power supply and good roads and a host of others.
Akinyosoye, argued that in view of the volatility of oil prices, Nigeria needs to diversify into refining its crude locally, which he said would definitely create job opportunities for Nigerians, and the loss of these export destinations underscores the need.
According to EIA, aside from Canada, European destinations like The Netherlands, Italy, U.K., and France, ranked high on the list of U.S. crude oil export destinations. The second-largest regional destination is Asia, with countries including China, Korea, Singapore, and Japan.
EIA said in 2016, the U.S. exported to eight different Central and South American destinations, including Curacao, Colombia, and Peru, which were also Nigeria’s export destinations.
The U.S. agency stated: “Some nations listed as receiving crude oil exports from the United States in EIA export statistics, such as the Marshall Islands, Bahamas, Panama, and Liberia, are unlikely to be actual final destinations. Ports in the United States are not deep or wide enough to allow safe navigation and loading of the largest and most economic ships such as Very Large Crude Carriers to transport crude oil. Instead, U.S. crude oil is exported on smaller vessels and is then transferred to larger vessels in deeper waters outside of port.
In some cases, cargoes that undergo ship-to-ship transfer or that do not have a buyer prior to loading will cite the jurisdiction of the transfer or the registration flag of the vessel to which the cargo is being transferred, not the cargo’s actual final destination. Many vessels are registered in nations such as the Marshall Islands, Bahamas, Liberia, and Panama -meaning the exported crude oil was likely destined elsewhere.
“Curacao, located in the Caribbean Sea north of Venezuela, received 30,000 barrels per day of U.S. crude oil in 2016, making it the third-largest destination. Petróleos de Venezuela (PDVSA), the state-owned oil company of Venezuela, operates the 330,000 bpd Isla refinery on Curacao, as well as crude and petroleum product storage facilities on the island.”
Featured
We’ll Be Intentional In Our Support To Improve NYSC Scheme -Fubara
Rivers State, Sir Siminalayi Fubara, has assured members of the National Youth Service Corps (NYSC) of his administration’s commitment to supporting and strengthening the scheme in the State.
Fubara gave the assurance last Friday at the NYSC permanent orientation camp, Nonwa-Gbam, Tai Local Government Area in the State, during the swearing-in ceremony of 2026 Batch B Stream II orientation course.
Represented by the Permanent Secretary, Cabinet Bureau, Office of the Secretary to the State Government, Dr. Promise Oguzie, the governor said the State Government would remain intentional in providing the necessary support to improve the NYSC scheme and enhance the experiences of corps members deployed to the state.
He charged the corps members to be role models and quality nation-builders in their service to the good people of Rivers State in particular, and Nigeria at large.
“I charge you to be exemplary, dedicated and committed in all you do. Take full advantage of all the camp programmes and activities to enrich yourselves”, he said.
In his welcome address, the State Coordinator of NYSC in Rivers State, Mr. Moses Oleghe, urged corps members to see their deployment to Rivers State as a “veritable opportunity to make meaningful contribution to the growth of the State in particular and Nigeria at large.”
He further charged them to serve with all sense of “integrity, discipline, and the fear of God, especially when they will be engaged as INEC ad-hoc staff that will conduct the 2027 general elections.”
A total of 3,584 corps members composed of 1,421 males and 2,163 females were sworn in by the Chief Judge of Rivers State, who was represented by Justice Godspower Aguma.
Featured
Fubara: Nigeria Needs God-fearing Leaders To Make Progress …Applauds Seventh Day Adventist
Governor of Rivers State, Sir Siminalayi Fubara, says Nigeria needs God-fearing leaders for the nation to move in the right direction and make meaningful progress.
The Governor stated this yesterday when he received in audience, the World President of the Seventh Day Adventist Church, Pastor Erton Kohler; his wife, Andriene Marques Kohler; daughter Mariana Marques Kohler and a retinue of ministers of the church at Government House, Port Harcourt.
Fubara who hailed the Seventh Day Adventist Church for its contributions to education and the grooming of future leaders in Nigeria, expressed delight that the Church had over the years, been investing in education at various levels and currently runs two universities in the country.
He commended the church for not only using its institutions to spread the gospel of Christianity but to groom future leaders for the country.
According to him, religion should not be just about defending one’s faith, but also making meaningful impact on the lives of the people.
He said that by floating these educational institutions, the church has demonstrated capacity to support Nigeria in the task of producing not only educated people but a breed of God-fearing leaders.
“Our country is where it is today because we lack the fear of God. If you have the fear of God, there should be a limit to what you can do because you understand the supremacy of God. But when God is not in your equation, you’ll go beyond the line and that is what has brought us to where we are today.
“So, I feel very happy that you are contributing to the development of our future leaders in this country. We need the right people being in the right place; prepared properly with good minds; that is what we need, not just in Nigeria but round the whole world.,” he said.
Governor Fubara further observed that the absence of God-fearing people in high places to take the right decisions that could impact positively on the society, has also given rise to other problems such as social inequality, poverty, corruption and criminality. According to him, Nigeria needs a system where the average parent could afford quality education for their children and a guarantee that upon graduation, the average child will have the capacity to compete favourably with anybody, anywhere in the world.
“If we have a situation where the little money that you’re being paid as wage can also afford you quality healthcare and after working at least for 15-20 years, you have a roof over your head, tell me why you should be involved in any kind of crime? At that point, you’ll feel secured and this attitude of insecurity about the future that leads to all the social vices we have today won’t be there,” he said.
Governor Fubara expressed appreciation to the delegation for the visit and for their prayers for Rivers State, assuring them of his continued support for their programmes in the state.
Leader of the delegation and World President of the Seventh Day Adventist Church, Pastor Erton Kohler said he was in Nigeria for a special conference of the church during which thousands of the church’s ministers will be undergoing an empowerment programme to further equip them for the task of herding their flocks and serving the society.
He expressed gratitude to the Governor for the warm reception accorded his entourage, saying the memory of the visit will linger in his mind for a lifetime.
Kohler disclosed that the Church has over twenty -four million (24,000,000) members and more than 182,000 places of worship, spread across 212 countries of the world.
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Rivers Assembly Approves Fubara’s 2026–2028 MTEF
The Rivers State House of Assembly has approved the 2026–2028 Medium Term Expenditure Framework (MTEF) submitted by Governor Siminalayi Fubara.
This reaffirms the lawmakers’ commitment to enacting laws and taking legislative actions geared towards the overall development of the State.
The Assembly gave the approval during its Second Legislative Sitting of the Fourth Session held last Friday.
Speaking on the MTEF document during plenary, the House Speaker, Rt. Hon. Martin Amaewhule, noted that by the provision of Section 10(1)(b) of the Rivers State Fiscal Responsibility Law No. 8 of 2010, the MTEF ought to have been laid before the House in September 2025.
Amaewhule explained that traditionally, the document is expected to be presented four months before the commencement of the next financial year and immediately after the expiration of every three-year fiscal cycle.
He, however, stated that in the interest of the State and its people, the House considered it necessary to deliberate on the document, describing it as a precursor to the 2026 Budget Estimates.
The Speaker expressed concern that the year had already progressed significantly before the presentation of the framework.
During deliberations on the document, members examined the assumptions and projections contained in the MTEF and observed that strict adherence to the outlined fiscal parameters would ultimately serve the interest of Rivers people.
The lawmakers maintained that effective implementation of the framework would promote prudent financial management and enhance developmental planning across the State.
Following the debate and positive consideration by members, the Speaker put the question to the House and members voted overwhelmingly in support of the approval of the MTEF.
Meanwhile, during the same sitting last Friday, the House also received a petition from the Chairman of Obio/Akpor Local Government Council, Dr. Gift Worlu.
The petition was presented by the member representing Obio/Akpor Constituency II, Hon. Emilia Amadi.
According to the petition, concerns were raised over an imminent security breach, threats to lives, destruction of property and alleged forceful takeover of property by some lawless persons within parts of the Local Government Area.
Presenting the petition before the House, Hon. Amadi appealed to the lawmakers to revisit the matter and take necessary steps aimed at safeguarding lives and property in the affected communities.
The House is expected to further deliberate on the petition and consider measures to address the concerns raised in order to sustain peace and security in the area.
King Onunwor
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