Nigeria Once Again lLses Africa’s Top Oil pPoducer Position To Angola

Nigeria Once Again lLses Africa’s Top Oil pPoducer Position To Angola

According to latest data from the Organisation of Petroleum Exporting Countries (OPEC), Nigeria’s crude oil production fell by 156,900 barrels per day (bpd) to 1.269 million bpd in March, from 1.426mbpd recorded in February. Consequently, the country lost its status as Africa’s top oil producer to Angola, The Guardian reports.

The Nigerian subsidiary of Royal Dutch Shell Plc had shut down the Nembe Creek Trunk Line, which exports Bonny Light crude oil, in order to remove theft points. The line, operated by Aiteo, is one of two along with the Trans Niger Pipeline that carries Bonny Light crude oil to the export terminal. SPDC has, however, completed the repair work and production is expected to peak in the next monthly report, while exports of roughly 232,000 bpd had been planned for this month.

Again, this is not the first time the nation will lose its premier position to the former Portuguese enclave, spurred majorly by crude shut-ins resulting from either militant attacks or facility maintenance by oil companies. Angola, which has been working hard to remain Africa’s top producer, climbed to the top again for being able to maintain a daily production of 1.652 million barrels since January, even though it is a drop from last quarter of 2016 levels of 1.736mbpd.

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