• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 3 hours One Last Warning For The U.S. Shale Patch
  • 14 hours Russian Effect: U.S. May Soon Pause Preparations For Delivering F-35s To Turkey
  • 6 hours China's Expansion: Italy Leads Europe Into China’s Embrace
  • 11 hours Chile Tests Floating Solar Farm
  • 51 mins Poll: Will Renewables Save the World?
  • 3 hours China's E-Buses Killing Diesel Demand
  • 22 hours New Rebate For EVs in Canada
  • 3 hours Trump sells out his base to please Wallstreet and Oil industry
  • 13 hours Biomass, Ethanol No Longer Green
  • 13 hours Trump Tariffs On China Working
  • 1 day Boeing Faces Safety Questions After Second 737 Crash In Five Months
  • 1 day The Political Debacle: Brexit delayed
  • 20 hours 3 Pipes: EPIC 900K, CACTUS II 670K, GREY OAKS 800K
  • 15 hours Read: OPEC THREATENED TO KILL US SHALE

Nigeria is Africa's Largest Oil Exporter

The office of President Goodluck Jonathan's, summing up his first 100 days in office, declared that one of his administration’s achievements was Nigeria again retaining its position as Africa’s largest oil exporter, surging ahead of Angola after the insurgency in the country’s militant Niger Delta was quelled.

Nigeria currently produces about 2.4 million barrels per day (bpd), a rate which fell to 1.8 million bpd when fighting in the Niger Delta sharply curtailed production.

Special Adviser to the President Jonathan on Media and Publicity Reuben Abati said, "Boosted by the overwhelming success of the amnesty program of the current administration, Nigeria's oil production expanded by 20 per cent and she reclaimed her foremost position as Africa's largest oil exporter, which she had hitherto lost to Angola.

Nigeria sets a new record by being recognized by OPEC in July as the second largest oil exporter in the cartel, second only to Saudi Arabia. It is the first time Nigeria has recorded such a feat," The Vanguard newspaper reported.

The U.S. United States Energy Information Administration (EIA) places Nigeria's proven oil reserves at between 16 and 22 billion barrels but other sources assert that Nigeria’s potential oil reserves could in fact be as high as 35 billion barrels.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News