• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 18 hours How Much Oil Does Aramco Have?
  • 59 mins Venezuela continues to sink in misery
  • 6 hours How Is Greenland Dealing With Climate Change?
  • 23 hours Spy&State: Huawei Founder Says Firm Does Not Spy For China
  • 12 hours BofA Sees Oil at $35-70
  • 3 mins UK, Stay in EU, Says Tusk
  • 5 hours Socialists want to exorcise the O&G demon by 2030
  • 9 hours "Peace Agreement" Russia vs Japan: Control Over Islands Not Up For Discussion
  • 1 day Oil Slide Worries Traders. *relax* This Should Get Sorted by Year End.
  • 14 hours China Car Sales Plummet: Can Musk Unshovel His Groundbreaking?
  • 1 day China's Exports Shrink Most In Two Years, Raising Risks To Global Economy
  • 1 day Bolsonaro Wins in Brazil
  • 10 hours Regular Gas dropped to $2.21 per gallon today
  • 9 hours WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
Another Crucial Canadian Pipeline Runs Into Trouble

Another Crucial Canadian Pipeline Runs Into Trouble

Yet another crucial Canadian energy…

Norway’s Oil Production To Fall To 30-Year Low

Norway’s Oil Production To Fall To 30-Year Low

Crude oil production in Norway…

Oil Thieves Wreak Havoc On Nigeria’s Oil Industry

NIgeria

Nigeria’s crude oil and condensate production stood at 2.09 million bpd in October, oil ministry data showed on Friday, with output down by some 70,000 bpd compared to September, due to increased sabotage attacks on oil infrastructure by oil thieves.

In September, Nigeria’s crude oil and condensate production was 2.158 million bpd, according to the oil ministry data.

The Nigerian National Petroleum Corporation (NNPC) warned earlier this month that sabotage attacks on oil pipelines were on the rise, while analysts also warn that violence may return in Nigeria’s oil industry ahead of the general elections in February.

Nigerian crude and condensate production is expected to rise to 2.2 million bpd by early next year, thanks to the imminent start-up of the Total-operated Egina oil field, Nigeria’s Oil Minister Emmanuel Kachikwu said in an interview with S&P Global Platts earlier this week.

“Hopefully, that should lift us closer to 2.15 million-2.2 million by the start of next year barring any unforeseen shutdowns,” Kachikwu said, adding that the country’s longer-term production goal is around 2.5 million bpd.

“I think you could see it creep up to 3 million b/d in the next eight to 10 years,” the minister told S&P Global Platts.

Kachikwu expects “relative stability” in Nigeria’s oil sector ahead and during the elections in February.

Following a wave of militant violence in 2016 and early 2017, Nigeria’s oil production started to recover in the latter half of 2017, when attacks on oil infrastructure subsided.

This year, after some hiccups and pipeline outages during the spring and early summer, Nigeria’s crude oil production has been steadily rising.

Crude oil production jumped by 74,000 bpd from its July level to average 1.722 million bpd in August, according to OPEC’s secondary sources. In September, Nigeria further boosted its crude oil production, by 26,000 bpd to 1.748 million bpd.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Treborus on December 04 2018 said:
    If you steal, you are a thief. Irrespective of their economic status, these "poor" who stole are thieves. Get a dictionary...
  • Sudo on November 10 2018 said:
    That's rich, calling out the abject poor as thieves without acknowledging the oil companies and politicians reaping the wealth without sparing a dime for the community.

Leave a comment

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