The president of a Washington-based Global Water and Energy Strategy Team (GWEST), Paul Wihbey, has divulged that Nigeria might in the near future resume crude oil exports to the United States.
This disclosure was made known during a lecture titled, “The global oil and gas market dynamics: outlook for Nigeria’, at the Emerald Energy Institute of the University of Port Harcourt, Rivers State at the weekend.
According to him, the key component of President Barack Obama and President Buhari’s recent meeting in Washington is for the resumption of significant volume of crude oil export to the U.S, as Saudi Arabia lean more towards China.
Wihbey, who before President Buhari’s visit to the U.S., briefed the U.S Marine Corps Command and Staff College, as well as U.S Marine Corps War College, Quantico, Virginia, as an expert on geopolitics of the international energy sector, particularly on Nigeria, explained that if Nigeria establishes credible political institutions, it will in no distance time replace Saudi Arabia as a key oil exporter to the U.S.
In addition, President Muhammadu Buhari has been urged to swiftly put in place a new strategic energy policy for export of Nigerian oil to new markets in Asia, while also urging government to resolve the crisis with India, which has expressed its willingness to increase its crude oil import from Nigeria to about $50billion annually.