Lagos - Nigeria’s efforts to find alternative markets for its crude oil after exports to the United States dropped has received a big boost as Argentina has ordered for Nigerian Bonny Light crude.
This is the first time the South American country, which produces 700 000 barrels per day (bpd) of oil, would be buying Nigerian crude since it lifted restrictions on crude imports in January, reports Daily Trust.
Argentina's state-run oil company, YPF, has awarded a tender to buy a one million-barrel cargo of Nigerian Bonny Light crude from trading firm, Vitol.
The first cargo is expected to arrive at the country’s Bahia Blanca Port in the second week of May.
Read more at Daily Trust.