Brazil now Highest Buyer of Nigeria’s Crude

Data from the Nigerian National Petroleum Corporation (NNPC) on activities in the oil and gas sector for March 2014, disclosed that Brazil purchased 9.442 million barrels of crude oil from Nigeria in the month under review.
Brazil’s increased demand for Nigeria’s crude, according to analysts, may be as a result of the football World Cup, which the South American nation hosted between June and July. As at March, three months to the tournament, preparations were in top gear in Brazil, to ensure a successful hosting. The analysts are of the view that Brazil will very likely remain the highest importer for Nigeria’s crude for May, June and July, when data for the periods are released by the NNPC.

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