By Yemisi Izuora/Agency Report-Lagos
No Nigerian crude oil has been exported to the US for four consecutive weeks starting from the week ending October 17 to the week ending November 7, according to data released late Thursday by the US Energy Information Administration.
The last time the US imported Nigerian crude was for the week ending October 10, the EIA data showed.
For six weeks between early July and mid-August, the US did not import a single barrel of Nigerian crude.
The development comes as US weekly oil production passed the 9 million b/d threshold for the first time since the EIA began tracking weekly production in January 1983.
Three main formations — Bakken, Eagle Ford, and the Permian Basin — are the key drivers of the surge in US production.
Permian Basin production is rapidly approaching 2 million b/d, while Eagle Ford and Bakken are producing above 1.6 million b/d and 1.2 million b/d, respectively.
Crude produced from large US shale fields is of the light, sweet variety and has backed out imports of Nigerian crudes which share a similar specification.
At its peak, the transatlantic flow of Nigerian oil to the US averaged over 1 million b/d for each year between 2004-2007.
While US imports of Angolan crudes have averaged 131,000 b/d for the four weeks ending November 7, Platts data showed.
As the tight oil boom continues to reduce US imports of West African crude, heavier Angolan grades have proved more resilient than their lighter regional counterparts, according to recent EIA data.
Sources said the main reasons for the increase in Angolan imports and decrease in Nigerian shipments are the comparative ease of blending Angolan grades with shale crude, as well as demand for heavy refined products and feedstocks, which favors Angolan crudes.
