• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 days Does Toyota Know Something That We Don’t?
  • 1 day America should go after China but it should be done in a wise way.
  • 7 days World could get rid of Putin and Russia but nobody is bold enough
  • 9 days China is using Chinese Names of Cities on their Border with Russia.
  • 10 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 10 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 10 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 9 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 23 hours How Far Have We Really Gotten With Alternative Energy
  • 10 days Putin and Xi Bet on the Global South
  • 10 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 11 days United States LNG Exports Reach Third Place
  • 11 days Biden's $2 trillion Plan for Insfrastructure and Jobs
The Race for Natural Hydrogen Is Heating Up

The Race for Natural Hydrogen Is Heating Up

Natural hydrogen presents a promising…

Nigeria, Iran Battle for OPEC's No.2 Position

Iran retains its position as the second-largest producer in the Organization of Petroleum Exporting Countries, despite a recent OPEC report that Nigeria moved from the organization’s third to second place, OPEC Governor Mohammad Ali Khatibi said.

OPECs' Annual Statistical Bulletin had put Nigeria ahead of Iran, but Iranian experts said they were examining the report, This Day newspaper reported.

Khatibi contended that OPEC’s rankings were not based on export but determined by production data, commenting, "OPEC rationing is based on production, not export, and Iran still holds the second-largest OPEC producer status and no change has happened in this regard. In the report, Iran's oil income exceeds that of Nigeria in 2010. Then how would it be possible for Nigeria's oil income to be less than that of Iran despite having boosted its exports?"

Khatibi added that Iranian experts had found ambiguities in some of the figures in the OPEC report and accordingly the Iranian analysts "did not confirm Nigeria's export increase."

Reserves are one of the criteria OPEC has used to set output targets. Iran and Iraq were rivals in the past over OPEC quotas and OPEC in the next few years is expected to address the issue of bringing Iraq back into the quota system, from which it is currently exempted.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News