Nigeria resumes petrol importation from China
Nigeria has resumed the importation of petroleum products from China.
S&P Global Platts disclosed that data from the general administration of customs (GAC) of China showed that the country shipped 37,000 metric tonnes of petrol to Nigeria in September 2020 for the first time since July 2019.
In April 2018, GAC data also showed that Togo was the first African nation to obtain Chinese petrol at 50,000mt, followed by Nigeria in January 2019 at 51,000mt.
The latest diesel exports from China to Africa was in June 2020, with South Africa and Kenya procuring 35,000mt and 40,000mt respectively.
The US Energy Information Administration (EIA) said in 2019, China’s yearly crude oil imports increased by 0.9 million barrels per day to a standard of 10.1 million bpd.
The EIA attributed the rise in China’s crude oil imports to its refinery capability and strategic inventory stockpiling, coupled with flat domestic oil production.
According to the EIA, China’s refinery capability elevated by 1.0 million bpd when two new refining and petrochemical complexes started operations with capacities of 0.4 million bpd each.
This made the country’s refinery processing improve to an all-time high in 2019, averaging 13.0 million bpd for the year.
In November, the Nigerian government signed a memorandum of understanding (MOU) with the government of Niger Republic for petroleum products importation.
Soraz Refinery in Zinder, Niger Republic, is said to have an installed refining capacity of 20,000 barrels per day compared to the nation’s 5,000bpd domestic requirement, leaving a surplus of 15,000 barrels per day.
The Nigerian government owns four refineries, yet imports refined petroleum products.
The post Nigeria resumes petrol importation from China appeared first on Within Nigeria.