Nigeria state oil company's trading arm Duke leaves London for Dubai - Reuters:
The trading arm of Nigeria’s state oil firm is leaving London to set up in Dubai to be closer to the Asian market which is fast becoming the main buyer of the west African country’s crude, four oil industry sources said.
The move by Duke also has tax advantages over keeping the office in London, the sources familiar with the matter told Reuters.
While Africa’s biggest oil producer once sold much of its oil to the United States, the shale boom displaced that, and U.S. crude is now competing with Nigeria for buyers in Europe and Asia.
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