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The decision of the United States to stop the importation of Nigeria’s light blend of crude oil due to the shale oil boom has exposed the US refineries to the dangers associated with the processing of lighter shale oil. As a result of the increased domestic production of shale oil, the US has slashed crude oil imports from a peak of almost 14 million barrels per day in 2006, to slightly above 7 million barrels per day.Crude oil import from Nigeria, one of the principal sources of light crude, was also slashed from more than 1 million barrels per day…
“as long as the oil companies continue to refuse to meter their oil wells, the nation would be in the dark on the actual quantity of crude they pump daily”. The Nigerian government produces over 4 million barrels of crude oil daily, an environmental activist said, disputing the official figures by the Nigerian National Petroleum Corporation, NNPC. Godwin Ojo, the Executive Director of the Environmental Rights Action / Friends of the Earth Nigeria, ERA/FoEN, told journalists over the weekend, in Lagos that the lack of transparency and accountability in the oil sector is responsible for the massive corruption in the…