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US exports of gasoline to Nigeria more than doubles in 2013

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Exports of US gasoline were 35 percent above the five-year average in 2013, and are forecast to climb further in 2014, as refinery outages and rising consumption boost shipments to Brazil, Colombia and Nigeria.

Deliveries to Nigeria more than doubled in 2013 from a year earlier, according to the IEA.

Nigeria’s economy is forecast to increase by 7.1 percent this year, according to the International Monetary Fund (IMF).

Unplanned repairs at US plants threaten to lower production already reduced by seasonal work.

“Refiners are having a hard time keeping pace with the overall demand, both domestically and internationally,” Tom Finlon, director of Energy Analytics Group Ltd, said from Jupiter, Florida, on April 23.

The US Gulf Coast, home to more than half of US refining capacity, shipped an average of 368,000 barrels a day of finished motor gasoline in 2013, compared with 262,200 in the previous five years, according to the US Energy Information Administration data.

Shipments to Colombia are set to climb as Ecopetrol SA, the state-owned oil company, carries out work at its Cartagena and Barrancabermeja refineries, according to the Paris-based International Energy Agency.

The country imported about 170,000 barrels of oil products a day in January, almost all from the US, the IEA said in a report April 11.

Article Credit: Businessdayonline

Updated 5 Years ago

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