Asian and Mediterranean countries have become the leading destinations for Nigeria’s crude oil exports as of April 2025.
This situation has frustrated local refiners, who feel excluded from the country’s oil trade and have criticized regulators for a lack of transparency.
Despite Nigeria’s efforts to increase production and boost revenue, export data shows that most shipments have been directed towards foreign refiners, particularly in Asia and the Mediterranean region.
For instance, data reveals that between April 9 and 29, 2025, the majority of Nigeria’s crude exports went to refiners in the Mediterranean countries, Indonesia, and the Far East.
Companies like Oando, TotalEnergies, Shell, and NNPCL have commitments to supplying these foreign refiners.
Top European Buyers of Nigerian Crude
Country
Key Reasons for Demand
France
Le Havre refinery configuration compatible with Nigeria’s crude grade like Egina, Bonny Light
Spain
To reduce its dependency on Middle Eastern supplies
Netherlands
Significant European center for oil refining and redistribution
Italy
Close Proximity to Nigeria, Utilizes Nigerian crude to produce high-value refined products like gasoline and diesel
The United Kingdom
Maintains strong economic ties with Nigeria through consistent oil imports
Top Asian Buyers of Nigerian Crude
Country
Key Reasons for Demand
India
One of the key buyers of Nigerian crude for industrial and consumer needs
China
China imports small crude volumes from Nigeria, compared to other volume from the Middle East.
Indonesia
Significant buyer due to its advanced refineries requiring low-sulfur crude.
Why Are Asian & Mediterranean Refiners Buying More Nigerian Crude
Asian and Mediterranean refiners have significantly increased their purchases of Nigerian crude oil for several reasons.
Regarding Europe, following Western sanctions on Russian oil and gas due to its 2022 invasion of Ukraine, it has increased its intake of Nigerian crude to fill the supply gap. The European Union ban on Russian crude accelerated its shift to Nigerian oil.
New grades like Nembe and Utapate are strengthening Nigeria’s crude oil exports. In November 2023, Nigeria’s NNPC and Aiteo launched Nembe crude grade. The new Nembe grade has a low sulphur content and holds a premium over the Brent crude benchmark. In November 2024, NNPC introduced its Utapate crude oil blend. European refiners desire this blend because it has a low sulphur content, which is ideal for them. Nembe crude exports have reached France and the Netherlands, while Utapate has been shipped to Spain and the United States.
Geopolitical tensions like the Red Sea crisis are leading to rising freight costs as oil tankers from the Middle East bypass the Suez Canal by taking the longer Cape of Good Hope route. Thus, European refiners have turned to Nigeria’s crude supply to mitigate risks associated with longer shipping routes from the Middle East.
Asian buyers (India, China, Indonesia) prefer Nigerian grades like Bonny Light and Egina because of their low sulfur content, which makes them easy to process. Therefore, Nigeria’s crude exports to Asia are booming.
Key Nigerian Crude Oil Grades
Crude Grade
Primary Export Destinations
Notes
Bonny Light
Asia (India, China), Europe
Nigeria’s flagship crude; excellent for refining gasoline and diesel
Forcados
Mediterranean (Spain, Italy), Asia
Regular export grade with stable demand
Qua Iboe
Asia (India, South Korea), Europe
High gasoline yield; among the lightest and most desired Nigerian grades
Escravos
United States Asia, Europe
Blended grade with broad refining applications
Bonga
Asia (long-term contracts), United States
Deepwater crude
Egina
India, China, Europe
Deepwater crude
Other crude grades: Amenam, Agbami, Nembe, Brass River,
Nigeria’s Crude Production and Export Volumes
In Q1 2025, production (oil & condensates) averaged 1.74 million barrels per day in January, 1.67 million in February, and 1.60 million in March, reaching a total of 5.01 million barrels. The difference represents an 8% growth in 2025 compared to Q1 2024.
A breakdown of oil and condensate production for Q1 2024 showed that output stood at about 1.64 million barrels per day in January, 1.54 million in February, and 1.44 million in March, totalling 4.62 million barrels.
Regarding crude oil (excluding condensates), In January, February, and March, Nigeria achieved an average daily production of 1.53 million barrels per day (bpd), 1.47 million, and 1.4 million barrels.
In January 2025, Nigeria exported around 1.1 million barrels per day in crude oil.
