Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Nigeria’s annual oil exports to US hits $30bn

    Nigeria’s annual oil exports to US hits $30bn

    November 16, 2011
    Share
    Facebook Twitter LinkedIn WhatsApp

    16 November 2011, Sweetcrude, Lagos – The United States Consular General in Lagos, Mr. Joseph Stafford, has put the value of Nigeria’s annual crude oil exports to his country at $30 billion (N4.5 trillion).

    According to him, the figure was in excess of the $5 billion (N750 billion) services, which the US exported to Nigeria annually, with the trade balance of $25 billion in favour of Nigeria.

    The consular general disclosed this on Tuesday in Lagos at the unveiling of Sponge-Jet, a low dust abrasive blasting technology by Tricontinental Technologies.

    Describing Nigeria’s performance in terms of growth and development parameters as impressive, he said the US government was committed to facilitating innovativeness in various sectors of the economy, hence its involvement in the Sponge-Jet project.

    Tricontinental is presently executing contracts for Shell, Chevron and Addax, among other actors in the Nigerian oil and gas sector.

    The Sponge-Jet technology offers solutions for industries and applications such as marine and offshore coating application; lead abatement; oil, gas and chemical processing; petrol chemicals; power generation; surface preparation for painting; coating removal; construction; plant maintenance and general repairs.

    “We are optimistic. There are many opportunities in this market. We will continue to promote more business partnerships between Nigeria and the US,” Stafford added.

    Also speaking at the event, the Managing Director, Tricontinental Group, Prof. Toyin Ashiru, said the Sponge-Jet technology was developed to save time, labour and money by accelerating abrasive blasting and painting operations.

    He said the technology was meant to protect the environment by suppressing fugitive emissions and rebound that could lead to costly interruptions and dangerous workplace conditions.

    Related News

    Nigeria says divestment paying off as oil output rises

    UK reaffirms support for Nigeria’s energy transition efforts

    AI to bolster oil recovery as Africa maximizes production at ageing fields

    E-book
    Resilience Exhibition

    Latest News

    Cross River targets revenue, investment boost with nine new laws

    June 11, 2025

    Nigeria says divestment paying off as oil output rises

    June 11, 2025

    Navy destroys illegal oil storage pits in Delta creeks

    June 11, 2025

    Anzana Electric and AfDB power up Burundi’s energy future

    June 11, 2025

    South Africa’s April manufacturing output falls 6.3% y/y

    June 11, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.