OWING to a further slide in prices and additional shut-in of about 35,000bpd in Usan and Yoho Terminals, Nigeria’s export earnings in 2015 from the sale of crude oil declined by 50 per cent. Other factors responsible for the shortfall in earnings, according to the Nigerian National Petroleum Corporation (NNPC), include the non- receipt of Nigeria Liquefied Natural Gas (NLNG) feedstock of about $74.47 million following payment slippage into new year and 57.08 per cent drop in liquefied petroleum gas/natural gas liquids lifting. The countryís major export destinations are now Germany, France, Italy, Spain, Sweden, Brazil, India, Indonesia, South Africa, Cameroun and others. In a related development, there are indications that crude oil production cost may not have favoured offshore activities after all, with the plummeting fortunes of the commodityís price in the world market. With the price of Organisation of Petroleum Exporting Countries (OPEC) basket of 13 crudes […]