Nigeria Drops to Seventh on OPEC Production List

Nigeria now ranks seventh on Organisation of the Petroleum Exporting Countries’ crude oil...

Nigeria now ranks seventh on Organisation of the Petroleum Exporting Countries’ crude oil production list, according to the organisation’s Monthly Oil Market Report for November, which examined oil production performance in October.

Nigeria’s output was a mere 1.014 million barrels per day in October, ranking seventh after Saudi Arabia, United Arab Emirates, Kuwait, Iraq, Angola and Algeria.

While Nigeria’s production was 1. 014mb/d in October, Angola produced 1. 051mb/d;  Algeria, 1.060mb/d; Kuwait 2.811mb/d; UAE, 3.188mb/d;  Iraq, 4.651mb/d; and Saudi Arabia, 10. 957mb/d.

While Venezuela’s production was 711b/d, Equatorial Guinea’s was 57b/d. The likes of Gabon, Libya and Iran did not produce a barrel in the month.

Nigeria used to rank fifth, with countries such as Angola and Algeria behind it in terms of crude oil production.

West Africa’s largest economy has been through a rough path as its crude oil production is bedevilled by theft and pipeline vandalism.

TLD Newsletter

Get the latest legal news, key cases, top lawyers, and expert analysis for your legal journey.

RELATED ARTICLES

Petroleum Company Records First Oil Production

A petroleum exploration and production company, Emadeb Exploration and Production Company Limited, has expressed excitement

Dangote Refinery Says Price Cut Prompted Reduction in Pump Prices

Dangote Petroleum Refinery has said that the recent reduction in pump prices by oil marketers

Togo, Niger, Benin Owe Nigeria $20m for Electricity Supplied in Six Months

International bilateral customers, including Société Béninoise d’Énergie Électrique (SBEE) from the Republic of Benin, Compagnie

Nigeria Emerges Oil Trading Hub, Africa’s Next Growth Frontier

Africa is fast positioning itself as the next major growth frontier for the downstream oil

LSE-listed Savannah Energy Appoints Two Nigerians as Independent Directors

British oil and gas company Savannah Energy has appointed two Nigerian professionals, Uyi Akpata and

Dangote Refinery Denies Importing High-Sulphur Petrol

The Dangote Petroleum Refinery has denied reports that it imported finished premium motor spirit (PMS)

TLD Newsletter

Get the latest legal news, key cases, top lawyers, and expert analysis for your legal journey.

This Pop-up Is Included in the Theme
Best Choice for Creatives

Purchase Now

TLD Newsletter

Get the latest legal news, key cases, top lawyers, and expert analysis for your legal journey.