US to resume purchase of Nigeria’s crude oil – Kachikwu

Ibe-kachikwu

The Minister of State for Petroleum, Dr. Ibe Kachikwu, has revealed that the United States of America will soon resume their trade relationship with Nigeria in the area of crude oil purchase.

He stated that the rekindled relationship was as a result of President Muhammadu Buhari’s visit to the US in July this year.

He said, “The fact of US actually being back into the sales of crude market obviously will impact on prices but what you find is that the volume of export that US intends to do is really minimal because there is a lot of local internal consumption and strategically they are still reaching out to buy a couple of Saudi barrels and in fact they are opening up to buy a couple of Nigerian barrels.”

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Kachikwu stated that following the president’s visit in July, the US indicated interest in buying very limited quantity of Nigerian oil, partly to support the market.

Daily Post

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