Nigeria sold 42% of its total annual crude oil exports, which amounted to 320m barrels, to India, Spain and, the Netherlands, from June 2015 to May 2016, Nigeria Today reported citing a report issued by the Nigerian National Petroleum Corporation (NNPC).
India imported over 1,570mb of oil from Nigeria, representing 22% of country’s total crude oil export, while Spain acquired 85mb of crude, representing 12% of total exports. The Netherlands, took 11% of Nigeria’s total crude oil export, reaching to about 78mb, according to Vanguard.
Previously, NNPC’s report declared that Nigeria’s total export receipts of crude oil & gas from July 2015 till June 2016 was $3.42b. Out of which the sum of $3.41b was transferred to Joint Venture (JV) Cash Call in line with the governments approved budget for 2016.