* Proposal suggests importing Nigerian Bonny Light crude oil
* Move would seek to boost refining, trade balance
BUENOS AIRES, Oct 12 (Reuters) - Argentina is studyingauthorizing crude imports from Nigeria to help counter a longdecline in oil and natural gas output that has hurt its tradebalance, two newspapers reported on Saturday, both citing ananonymous source with knowledge of the matter.
South America's No. 2 economy has tough import barriers andstrict currency controls meant to stem capital flight, making ittricky for oil companies to meet their needs.
The floated import measure is designed to optimize refiningand reduce diesel and gasoline purchases.
It would also bolster the trade surplus, a crucial source offoreign currency for a country virtually shut out of debtmarkets since its 2002 default.
The plan under analysis mulls establishing a quota system topermit imports of Nigerian Bonny Light crude oil ,daily La Nacion reported.
Argentina, estimated to hold 802 trillion cubic feet ofnatural gas trapped in shale rock and 27 billion barrels of oil,hasn't imported oil in two decades, according to pro-governmentPagina 12.
But a government commission agreed to review a request madeby oil companies including Argentina's Oil Combustibles, whoseowner Cristobal Lopez is seen as close to president CristinaFernandez.
The imports would bolster output at Oil Combustibles andRoyal Dutch Shell's respective San Lorenzo and Dock Sudrefineries, which currently operate below capacity, Pagina 12said.
It was not immediately possible to contact the governmentfor comment.
Leftist Fernandez says her administration's policies seek toshore up the Argentina economy and peso after the debt crisis 11years ago that pushed millions of middle-class Argentines intopoverty.
