Yenagoa, Nigeria — Nigerian authorities and Shell’s local subsidiary were on Monday investigating the cause of a spill on the…
Browsing: Bonny Light crude
OpeOluani Akintayo, with agency reports 06 June 2018, Sweetcrude, Lagos – Nigerian crude cargoes for July are struggling to find buyers.…
Nigeria’s crude oil production has consistently increased from the 1.511 million bpd in first quarter of this year; 1.616 million bpd in second quarter to 1.710 mpbd in June and 1.723mbpd in July.
Nigeria recorded the biggest drop in output in March among its peers in OPEC, followed by Saudi Arabia, the group’s biggest producer. The 13-member cartel, in its latest monthly oil market report for April, said Nigeria recorded the biggest decline of about 157,000bpd in the period under review.
The gain also boosts Nigeria’s capacity to fund its N7.3 trillion 2017 budget, and if the gains continue, may reduce the dependence on external borrowings to fund the budget and other development projects.
Nigerian oil output had recovered sharply in the past few months on the return of Qua Iboe, Forcados and Bonny Light as militant attacks were slowing down.
Nigeria, which was Africa’s largest oil producer until a few months ago, has seen its output slump to 30-year lows due to renewed militancy in the country’s oil rich Niger Delta.
07 August 2016, Lagos — Analysts at FBNQuest, an economic research and investment banking arm of FBN Holdings Plc, has…
29 July 2016, Lagos – Royal Dutch Shell says its oil production in Nigeria will fall by 35,000 barrels per…
