Top 10 countries that purchased Nigerian crude oil in 2024

Nigeria has solidified its position as a premier oil producer, supplying its crude to several countries globally.

The country's crude oil, renowned for its exceptional quality and strategic advantages, remains highly sought after worldwide.

As Africa's leading oil producer, Nigeria's crude grades, such as Bonny Light and Qua Iboe, boast desirable characteristics that attract international buyers.

A notable milestone was achieved in July 2024 with the launch of the Utapate crude blend by NNPC Ltd and SEEPCO Ltd. The inaugural shipment of 950,000 barrels was delivered to Spain.

Nigeria's oil production in figures

In 2024, Nigeria emerged as one of Africa's top crude oil exporters, supplying high-quality crude to various countries globally.

The report, published by BusinessDay, highlights data from the National Bureau of Statistics (NBS) covering the period from January to September 2024.

According to S&P Global, the country averaged 1.5 million barrels per day in oil production during the period.

Despite challenges such as fluctuations in global oil prices, changing energy policies, and widespread oil theft, Nigeria's crude oil has remained in high demand.

The Nigerian National Petroleum Company Limited (NNPCL), under the leadership of Managing Director Mele Kyari, recently announced that Nigeria, along with its international partners, had increased crude oil and gas production to 1.8 million barrels per day (b/d) and 7.4 billion cubic feet per day (Bcf/d).

This achievement is attributed to the concerted efforts of the government, security forces, and joint venture partners to combat theft and sabotage.

Nigeria's strategic geographic location along the West African coast enhances the appeal of its crude oil.

Being close to international shipping routes reduces transportation costs for importing countries.

This proximity is particularly advantageous for nations in Europe, the Americas, and parts of Asia, which rely on steady energy supplies to meet their industrial and domestic needs.

According to the latest figures from the NBS, the following countries were Nigeria's largest crude oil buyers in 2024;

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