India, a primary destination for Nigerian crude has increased its appetite for discounted Russian barrels to the detriment of some Nigerian volumes leading to a dip in the volume of crude exported by the country, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has revealed.
This has been necessitated by the ongoing war between Russia and Ukraine which has led to a dip in demand from the once-dependable Asian market at the onset of hostilities in the Eastern bloc, NNPCL disclosed.
This development was disclosed by NNPC’s Executive Director of Crude and Condensate, Maryamu Idris, during a recent panel presentation at the Argus European Crude Conference in London.
