Bad News! South Africa to Stop Buying Nigeria's Crude Oil,Turns to Iran

1.      The South African Petroleum Industry Association, SAPIA, on Monday said that South Africa would likely stop importing crude oil from Nigeria following the lifting of the sanctions on Iran.

According to VANGUARD, Executive Director of the SAPIA, Avhapfani Tshifularo made the remark while addressing journalists.

He said, ''The re-emergence of Iranian crude oil provides options for those willing to buy from Iran. Iranian imports are likely to displace the Nigerian and Saudi Arabian crudes, since they seem to have filled the gap since South Africa stopped importing Iranian crude oil''.