• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 16 hours "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 8 hours Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 2 days Did China cherry-pick the factors that affected the economic slow-down?
  • 2 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 19 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 23 hours Are you aware of Oil Price short videos on our energy topics?
  • 2 hours The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 1 day Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 1 day NordStream2
  • 411 days Class Act: Bet You've Never Seen A President Do This.

Breaking News:

California Gasoline Prices Are Spiking

Nigeria Says Oil Production Rebounded In April

Nigeria’s oil production, including condensates, increased to 2.07 million bpd in April from 2.02 million bpd in March, and rose by 11 percent from April 2017, Platts reported on Thursday, citing estimates by Nigeria’s oil ministry.

Since militant violence in the Niger Delta abated in the second half of last year, Nigeria has gradually ramped up production, but its oil and condensate output dipped in March, due to what officials attributed to illegal tapping of pipelines in the oil-producing region.

A spokesman for the oil ministry told Platts that Nigeria was on track to achieve its oil and condensate production target of 2.3 million bpd, set as an assumption in its 2018 budget.

Nigeria was initially exempt from the OPEC production cuts together with Libya because of the violence in the two countries that had substantially reduced their oil production. At the meeting at which OPEC extended the pact until the end of 2018, Libya and Nigeria agreed to stick to an unofficial collective cap of 2.8 million bpd of crude oil production, reflecting the presumed sustained production capacities of 1 million bpd for Libya and 1.80 million bpd for Nigeria.

According to OPEC’s secondary sources in the latest Monthly Oil Market Report, Nigeria’s crude oil production in March was 1.810 million bpd, up by 18,200 bpd from February.

Related: The Demise Of Petrocaribe

According to the monthly survey of one of those secondary sources, S&P Global Platts, Nigerian crude oil production dropped by 40,000 bpd in April compared to March, due to an outage of the Trans Forcados Pipeline that affected exports of its Forcados grade. Platts sources say that Nigeria’s crude oil production is likely to drop again in May because the Qua Iboe grade may be shut in for scheduled maintenance.

The Platts survey found that Nigeria’s crude oil production dropped to 1.88 million bpd in April from 1.92 million bpd in March.

OPEC will release on Monday, May 14, the next oil market report with data for April, and the secondary sources is what OPEC uses to measure compliance to the deal.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From 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