The 2013 Import and Export Market for Crude Oils from Petroleum and Bituminous Minerals in Nigeria

On the demand side, exporters and strategic planners focusing on crude oils from petroleum and bituminous minerals in Nigeria face a number of questions. Which countries are supplying crude oils from petroleum and bituminous minerals to Nigeria? How important is Nigeria compared to others in terms of the entire global and regional market? How much do the imports of crude oils from petroleum and bituminous minerals vary from one country of origin to another in Nigeria? On the supply side, Nigeria also exports crude oils from petroleum and bituminous minerals. Which countries receive the most exports from Nigeria? How are these exports concentrated across buyers? What is the value of these exports and which countries are the largest buyers? This report was created for strategic planners, international marketing executives and import/export managers who are concerned with the market for crude oils from petroleum and bituminous minerals in Nigeria. With the globalization of this market, managers can no longer be contented with a local view. Nor can managers be contented with out-of-date statistics which appear several years after the fact. I have developed a methodology, based on macroeconomic and trade models, to estimate the market for crude oils from petroleum and bituminous minerals for those countries serving Nigeria via exports, or supplying from Nigeria via imports. It does so for the current year based on a variety of key historical indicators and econometric models. In what follows, Chapter 2 begins by summarizing where Nigeria fits into the world market for imported and exported crude oils from petroleum and bituminous minerals. The total level of imports and exports on a worldwide basis, and those for Nigeria in particular, is estimated using a model which aggregates across over 150 key country markets and projects these to the current year. From there, each country represents a percent of the world market. This