International buyers shun Nigeria’s crude

THERE are growing concerns of more economic woes ahead as data has shown that many international buyers are shunning Nigeria’s crude products.

Reuters reported that data from global energy information has shown that Nigeria is finding it difficult getting buyers for her crude.

The report said that international buyers appear to be interested in other grades of crude from other countries.

According to the report, Nigeria has only been able to get buyers for 22 out of 62 of its December 2015 loading cargoes.

The report said that only Qua Iboe cargoes have been cleared of its December loading schedule as against other grades from Forcados, Bonny Light, and Escravos that have remained under pressure.

Reuters reports that in Angola which has remained Nigeria’s competitor, only eight cargoes were remaining from the December programme.