Brazil top destination for Nigeria’s crude

Nigeria

LAGOS, August 27, 2014 – Data from the Nigerian National Petroleum Corporation (NNPC) has confirmed that Brazil has overtaken India as the largest importer of Nigerian crude for the period March 2014.

The South American country spent around $990 million on 9.442 million barrels of Nigerian crude during that month. Analysts attribute the uptake to Brazil’s rising crude oil needs to preparations for the FIFA World Cup, which kicked off on June 12.

NNPC’s data further highlighted total crude oil and condensates lifting of about 54.6 million barrels for the month, with 44.9 percent coming from NNPC and 55.09 percent from oil companies.

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