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Nairaland Forum / Nairaland / General / Business / Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India (24820 Views)
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Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by amolak: 10:59am On Jun 26, 2015 |
FXStreet (Mumbai) - Nigeria has replaced Saudi Arabia as the largest crude oil supplier to India after its oil exports to India last month surged by nearly 200%, supplying some 745,000 barrels per day. It’s the first time in at least four years that Saudi Arabia, the world’s top crude exporter, has lost the top spot, Reuters reported. The shift comes as more Indian refiners switch out their long-term contracts with Middle East suppliers in favor of African oil spot purchases. Saudi Arabia also fell behind Russia and Angola last month as the largest crude supplier to China. The fuel-rich nation struggles to maintain market share in Asia as the gap narrows between the Middle East price marker and the international crude oil benchmark Brent. India’s African oil imports rose to the highest in more than four years, from 15.5% in April to 26% in May with tankers mainly from Nigeria and Angola. Meanwhile, the share of Middle Eastern oil to India fell to 54% in May from 61% in April, with Saudi Arabia supplying some 732,400 barrels per day. http://www.fxstreet.com/news/forex-news/article.aspx?storyid=edb00e38-5b39-4cec-86af-a240a9c5f90f 4 Likes |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by hefty4real(m): 11:00am On Jun 26, 2015 |
So will this increase the price of crude oil? Ans: The answer is still No So y is this news Carries his kunu with his goro and runs off thread 17 Likes 2 Shares |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by amolak: 11:03am On Jun 26, 2015 |
hefty4real:source not sauce is there 16 Likes |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by hefty4real(m): 11:06am On Jun 26, 2015 |
5 Likes |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Nobody: 11:07am On Jun 26, 2015 |
there wud come a time when crude oil becomes useless or not as expensive as it used to be. THEN, Nigeria wud be in deep shi.t 4 Likes 1 Share |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by ayusco85(m): 11:14am On Jun 26, 2015 |
amolak: That's good news for our economy. Hope the money will be put to good use and the masses will feel the impact. I trust Baba Buhari sha. 9 Likes |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Feranmicharles(m): 11:14am On Jun 26, 2015 |
Is it gonna be profitable for us If is still no.... Sorry, this no news 1 Like 1 Share |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Nobody: 11:14am On Jun 26, 2015 |
And the monies from these trades are entering a few bellies. Is this news suppose to give Nigerians Joy or hope? Upon all these news we still dey queue for Fuel. We are waiting Patiently for Baba to deliver on his promise sha. 1 Like |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by SlyCharlie(m): 11:14am On Jun 26, 2015 |
Thats good to know..... But how does that affect us :/ Huh..... |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by barry40: 11:14am On Jun 26, 2015 |
[size=18pt]It is not the quantity we supply that matters but what we do with the proceeds. For entrepreneurs/prospective entrepreneurs in the house, don't forget to take your daily nugget at www.businessinfohub.com[/size] 5 Likes |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Ezenwammadu(m): 11:14am On Jun 26, 2015 |
AregbeRascal the king of debt must be rejoicing now 9 Likes |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by omoadeleye(m): 11:15am On Jun 26, 2015 |
Wow, this call for celebration, dancing shoki... Shey una dan dey ok with dat? |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by kulobyno: 11:15am On Jun 26, 2015 |
Change. That's a good one |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by olapluto(m): 11:15am On Jun 26, 2015 |
Sai Baba. I am sure Buhari is working. India is a big market. 5 Likes 1 Share |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by omanifrank(m): 11:15am On Jun 26, 2015 |
wao |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Damianobi(m): 11:15am On Jun 26, 2015 |
GOD BLESS NIGERIA. With time, e go beta. |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Burger01(m): 11:15am On Jun 26, 2015 |
Change! |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Nobody: 11:15am On Jun 26, 2015 |
[size=16pt]Don't rejoice please.[/size] India is just as poor as Nigeria. And anyway.....everyone is producing oil. Nigeria should stop looking to other countries to save us.Instead...let us save ourselves by developing an industrial economy. Resource dependency leaves you dependent. This is not good news. 8 Likes |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Nobody: 11:16am On Jun 26, 2015 |
I'm so happy I'm from Niger-delta. Without our oil no Nigeria.- Biafra need a country because of us, but God won't allow them North are killing them selves cos dey need Amnesty money but they gonna die more cos God pass them West praying for oil in lagos but it can't happen. God bless Niger delta God bless my state delta state 7 Likes |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by BashirAhmad1(m): 11:16am On Jun 26, 2015 |
All this happening even before Baba appoint his cabinets, really there are bright future ahead. I see Nigeria taking over everything from other countries. I see Nigeria becoming one of the world super power. I see Nigeria competing with USA, UK, KSA and rest. I see hope filled all over Nigerians' faces. Baba can do it! 4 Likes 1 Share |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Pope22(m): 11:16am On Jun 26, 2015 |
We are now enjoying the good governance of Goodluck Jonathan!! 2 Likes |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by berrystunn(m): 11:16am On Jun 26, 2015 |
what's the profit? |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Billygee2u: 11:17am On Jun 26, 2015 |
good |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Nobody: 11:17am On Jun 26, 2015 |
That's good but we are tired of oil economy |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by berrystunn(m): 11:17am On Jun 26, 2015 |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Feranmicharles(m): 11:17am On Jun 26, 2015 |
amolak:he's correclty right,sauce adds aroma and sweetness to any soup,so is source. He's jus using indirect speech |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by gen2briz(m): 11:17am On Jun 26, 2015 |
Any special benefits? |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Nobody: 11:18am On Jun 26, 2015 |
Pope22: |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by Emekamex(m): 11:18am On Jun 26, 2015 |
More money for legislooters to steal |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by KingEbukasBlog(m): 11:18am On Jun 26, 2015 |
Re: Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India by berrystunn(m): 11:18am On Jun 26, 2015 |
olapluto: Tah....so you think is from baba? |
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