Welcome to FlosMart

FloSmart operates as a non-bogus entity which ensures better direct management and control of services, materials and supplies, vendors and costs. This has translated to reduced operating costs and an accompanying faster decision making process to the benefit of our customers. Flosmart ensures highest quality equipment are supplied by industry leading vendors . We specialize in providing the following essential Well services operations in the Nigerian Oil and Gas industry, with a view to expand its scope as the years go by.
Flosmart enjoys a strategic alliance with Schlumberger, a well-known industry leader in Oil field services. The strategic alliance allows Flosmart to boast of the best and most modern technology in its areas of services.


By 2022, US may cut back crude oil import from Nigeria

The US may drastically reduce its import of crude oil from Nigeria by 2022, according to the US Energy Information Administration, EIA, in its report.

Oil pipeline The body said the country was projected to become a net energy exporter in the next four years.

In the newly released Annual Energy Outlook 2018, EIA said the transition from net energy importer to net energy exporter will not take place until 2050 in some sensitivity cases.

The US reduced its import of Nigeria’s crude in 2012 when shale production increased. However, it increased its import in the third quarter of 2017 to 28.53 million barrels from the 18.88 million imported in the corresponding period in 2016.

The report said: “The transition of the United States to a net energy exporter is fastest in the high oil price case, where higher crude oil prices lead to more oil and natural gas production and transition the United States into a net exporter by 2020.

“In that case, higher crude oil prices also result in higher petroleum product prices and lower consumption of petroleum products, driving decreases in net petroleum imports.

“In the High Oil and Gas Resource and Technology case, with more favorable assumptions for geology and technological developments, the United States becomes a net exporter in 2020, and net exports increase through the end of the projection period.”

India, which is Nigeria’s largest importer of crude, reduced its demand in 2017 and began importing from the US. Some other buyers of Nigerian crude also turned to US crude.

Read more at: https://www.vanguardngr.com/2018/02/2022-us-may-cut-back-crude-oil-import-nigeria/