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As of 2007, Nigeria's oil revenue totaled $340 billion in exports since the 1970s and it was the fifth largest producer. [53] Nigeria imports most of its motor spirit, though it is a major oil exporter, and when fuel subsidies were lifted in January 2012, fuel increased from roughly $1.70 per gallon to $3.50. [54]
Crude oil export revenue by country (annually) A world map of countries by oil exportation, 2022 This is a list of oil-producing countries by oil exports based on data for 2022 by CEIC. Oil in this list refers to base crude oil only, and not refined petroleum products such as gasoline, diesel and airplane fuel.
This is a list of countries by net oil exports in barrels per day based on The World Factbook [1] and other sources. [2] "Net export" refers to the export minus the import. Note that the net export is approximate, since the import and export data are generally not for same year (though year-to-year changes are generally small).
Nigeria is the world's eighth largest exporter of crude oil and no longer sends 43% of its exports to the United States due to the recent shale boom of the US. Nigeria's foreign exchange is heavily dependent on the oil sector, which accounts for a majority of its export revenues. [1]
However, the BBC visited sites within the area and found crude oil oozing from the soil and floating on waters. ... account for 90% of exports from Nigeria, most of which comes from the Niger ...
The United States also became a net petroleum exporter in 2020, for the first time since at least 1949. [4] U.S. crude oil exports reached a record high in the first half of 2023. [5] U.S. oil production reached a record high in October 2023. [6]
Nigeria is the largest African crude oil supplier to India – it annually exports 400,000 barrels per day (64,000 m 3 /d) to India valued at US$10 billion annually. [165] India is the largest purchaser of Nigeria's oil which fulfills 20% to 25% of India's domestic oil demand.
Shell Nigeria announced 40,000 barrels of the crude oil spill in Nigeria in December 2011. [31] Bonga Field produces around 200,000 barrels a day. The spill was among the worst off the coast of Nigeria in 10 years. [32] 280,000 barrels of oil were estimated spilled in 2008 in two leaks in the Bodo region in the Ogoni district in 2008. [33]