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Nigeria's crude oil production decreased to 1.25 million barrels per day in May 2024, down from 1.28 million barrels per day in April 2024. [57] This represents a decline of 30,000 barrels per day and is the second-lowest production level in 2024. Despite this, Nigeria remains the largest crude oil producer in Africa.
Under this definition (crude and condensate), total world oil production in 2023 averaged 81,804,000 barrels per day. Approximately 72% of world oil production came from the top ten countries, and an overlapping 35% came from the twelve OPEC members.
Its production in 2022 averaged 1.2 million barrels of oil per day (bopd), [6] and 300 barrels per day (bpd) of condensate, making it the biggest oil producer on the continent. Nigeria has oil reserves of about 37 billion barrels and gas reserves of about 206 Tcf, ranking 10th and 8th in the world, respectively, and giving it plenty of room to ...
Data from Nigeria's state oil company NNPC shows that it did not contribute anything to state coffers in the first eight months of 2022, despite crude prices averaging $94 a barrel so far this ...
Although Libya has more reserves, there were 37.2 billion barrels (5.91 × 10 ^ 9 m 3) of proven oil reserves in Nigeria as of 2011, ranking the country as the largest oil producer in Africa and the 11th largest in the world, averaging 2.28 million barrels per day (362 × 10 ^ 3 m 3 /d) in 2006.
Start of production: November 2005: Abandonment: 2022 (Estimated) Production; Current production of oil: 202,000 barrels per day (~1.01 × 10 ^ 7 t/a) Year of current production of oil: 2006: Current production of gas: 144 × 10 ^ 6 cu ft/d (4.1 × 10 ^ 6 m 3 /d) Estimated oil in place: 965 million tonnes (~ 234 × 10 ^ 9 m 3 or 1470000 million ...
This is a list of countries by net oil exports in barrels per day based on The World Factbook [1] ... Domestic production, ... Nigeria: 2096000 2015 est. ...
Nigeria is the largest African crude oil supplier to India – it annually exports 400,000 barrels per day (64,000 m 3 /d) to India valued at US$10 billion annually. [166] India is the largest purchaser of Nigeria's oil which fulfills 20% to 25% of India's domestic oil demand.