India’s Reliance Industries, owner of the world’s biggest refining complex, saw its imports of Nigerian crude oil slump to zero in the first quarter of the year, compared to 9,800 barrels per day in Q1 2019.

India has remained the single largest buyer of Nigerian crude oil in the past few years after the United States slashed its imports from the country on the back of its shale oil production boom.

Reuters reported on Thursday that Reliance Industries imported 8.3 per cent less oil in March than in the same month of 2019, according to data from shipping and industry sources.

It said the March imports, at 1.24 million bpd, were 6.1 per cent per cent above the previous month’s.

Reliance shipped in about 43 per cent of its imports from Latin America, slightly lower than about 43.5 per cent a year before, the data showed.

The share of Middle Eastern oil in its overall purchases rose to 43.19 per cent from about 37 per cent a year ago. Imports from the US declined to about 10 per cent from 13 per cent a year ago, the data showed.

https://gistsfanz.com/2020/04/indian-refiners-rejects-nigerian-crude-oil.html

Lalasticlala, Seun, Dominique, Mynd44

Its a welcome development, This government must receive sense by force.

Just the beginning ,comments loading

This was bound to happen, Being India your biggest Customer, Buhari should have place a proper plan to court India to not to buy from Venezuela etc.
Important thing is many Refiner in Asia follows Reliance so more loss is coming on the way. Look at Saudi and Russians how they are engaging India`s foreign ministry and Diplomats to sell most of the oil.

All this nonsense will end when Dangote refinery opens. At least sure 650,000 barrels will be bought daily.

only if it is for Domestic/African market, because it is intended for BS III Fuel standard / Euro III Standards. You can not export to Europe, India, China.
They are using Euro 5 / BS 5 above.

SocialJustice:
All this nonsense will end when Dangote refinery opens. At least sure 650,000 barrels will be bought daily.

Great news

Buyers are now rejecting Oil as price is going down to $0. The end is coming to the problems of Nigeria. Oil is what the devil sent to ruin Nigeria. Once Oil sales end, Nigeria will be forced back to Agriculture and Solid Minerals.

Then we shall see whether Farmers will toil the Soil, plant Crops, nurture the Crops, then Harvest it, sell the Harvests and go and give the money to useless government and politicians to share and loot.

Very soon, nobody will contest for any elective posts again when there is no money to share and loot.

gambia:
Its a welcome development, This government must receive sense by force.

Your Goatluck Jonaddaft government that sold Oil at high prices was still borrowing to pay Salaries. Ngozi Iwealla will not die well

rationalhuman:
only if it is for Domestic/African market, because it is intended for BS III Fuel standard / Euro III Standards. You can not export to Europe, India, China.
They are using Euro 5 / BS 5 above.

Dangote will produce the good quality fuel for Nigeria and export the excess to West Africa.

He doesn't even need to export to Europe, the Nigerian market is huge.

There are only 3 companies in the world capable of design the refinery able to produce Highest grade fuel (EU VI/BS VI Level) and those companies are from Sweden, Germany and India. so i am not sure how you can claim that? Who has designed and making the dangote refinery?

SocialJustice:
Dangote will produce the highest quality fuel for Nigeria and export the excess to West Africa and rest of the world.

He doesn't even need to export to Europe, the Nigerian market is huge.

rationalhuman:
There are only 3 companies in the world capable of design the refinery able to produce Highest grade fuel (EU VI/BS VI Level) and those companies are from Sweden, Germany and India. so i am not sure how you can claim that? Who has designed and making the dangote refinery?

Sorry about the highest quality part. That's the reason I wrote the second paragraph.

Nigeria will definitely be his primary market. Nigerians don't care about those specifications you mentioned. Just give us readily available slow burning fuel and we'll be fine.

Thank God President Buhari repaired and built modern refineries now Nigeria can prosper

God bless President Buhari

The time has finally come

Diversify diversify diversify they refused


We don't need to be told that our government don't even need any counselling now


I see this coro as a blessing in disguise for all Africa nations.


Agricul is the only solution now

SW is full of vast arable of land thats its 30% is even yet to be explored

Oduduwa republic, its time to feed our blooders from the potopoto republic since their oyel is now redundant and useless in value

rationalhuman:
There are only 3 companies in the world capable of design the refinery able to produce Highest grade fuel (EU VI/BS VI Level) and those companies are from Sweden, Germany and India. so i am not sure how you can claim that? Who has designed and making the dangote refinery?

dangote has not started refining, and who says he can't join to make it four

SocialJustice:
All this nonsense will end when Dangote refinery opens. At least sure 650,000 barrels will be bought daily.

Dangote is the biggest looser here.

Afospecialk:
The time has finally come

Diversify diversify diversify they refused


We don't need to be told that our government don't even need any counselling now


I see this coro as a blessing in disguise for all Africa nations.


Agricul is the only solution now

SW is full of vast arable of land thats its 30% is even yet to be explored

Oduduwa republic, its time to feed our blooders from the potopoto republic since their oyel is now redundant and useless in value

Them no go hear you, make harvest season come them go cry.

Charleys:



Dangote is the biggest looser here.

How?

Corporate2020:


Your Goatluck Jonaddaft government that sold Oil at high prices was still borrowing to pay Salaries. Ngozi Iwealla will not die well

I'm sure you're from the north.
This is the way a northerner speaks.

SocialJustice:
How?

Oil is trading very low, the refinery won't be worth the investment by the time he finishes the refinery.

Except the government does what it always does by giving him Monopoly over all

Charleys:


Oil is trading very low, the refinery won't be worth the investment by the time he finishes the refinery.

Except the government does what it always does by giving him Monopoly over all

Oil will rebound and Dangote is a natural monopoly as he will have the only functional refinery in Nigeria. He does not need government to be a monopoly.

I got your problem, Understand the Basics of Engineering Projects, There are phases 1. Feasibility. 2. Finalization of Design for certain QA. 3. Sealing of URS 4. Approval for FDS.

Its not a Gari or rice when you can adjust water. you can not change it after FDS. That is why i mentioned, Only Sweden, India and German EPC companies have technology to Design and Construct a Petrochemical complex able to process upto EU VI/BS VI standard.

Dangote is end user (Not the Designer, Constructor of Engineering Complex), There is no company in Africa that can design simple Crude Glycerin Distillation Column leave aside the Petrochemical. So Dangote must have given contract to any company (Most probably German or Indian, as both countries have many Specialist EPC companies).

babyfaceafrica:
dangote has not started refining, and who says he can't join to make it four

rationalhuman:
I got your problem, Understand the Basics of Engineering Projects, There are phases 1. Feasibility. 2. Finalization of Design for certain QA. 3. Sealing of URS 4. Approval for FDS.

Its not a Gari or rice when you can adjust water. you can not change it after FDS. That is why i mentioned, Only Sweden, India and German EPC companies have technology to Design and Construct a Petrochemical complex able to process upto EU VI/BS VI standard.

Dangote is end user (Not the Designer, Constructor of Engineering Complex), There is no company in Africa that can design simple Crude Glycerin Distillation Column leave aside the Petrochemical. So Dangote must have given contract to any company (Most probably German or Indian, as both countries have many Specialist EPC companies).

I got your problem,.....is this sentence necessary?

Corporate2020:


Your Goatluck Jonaddaft government that sold Oil at high prices was still borrowing to pay Salaries. Ngozi Iwealla will not die well

This is the reason why I supported the general.
I did not vote because I couldn't even collect my voters card, if possible I will go back in time to 2015 to vote for Buhari.
I have strong hatered for complacency and mismanagement, anyone who is a squandermaniac can't get an ordinary smile from me.
Ki owo pe, aka " kowope " ni mi, every Kobo must be accounted for.

Yes, I am fed up with the people who post crap here, who post fake images, Fake news etc.

babyfaceafrica:

I got your problem,.....is this sentence necessary?

Our leaders have failed us