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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.
Nigeria's state-owned oil firm NNPC Ltd said on Monday an 800,000-litre (211,338-U.S. gallon) vessel carrying stolen crude had been intercepted offshore while heading to Cameroon and would be ...
Some statistics on this page are disputed and controversial—different sources (OPEC, CIA World Factbook, oil companies) give different figures. Some of the differences reflect different types of oil included. Different estimates may or may not include oil shale, mined oil sands or natural gas liquids.
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. At current rates this would be 45 years of supply ...
Almost all of the focus on crude prices has been based on falling production and rising demand from large nations like China. These forces and, perhaps, aggressive speculation, have caused oil ...
Shell Nigeria announced 40,000 barrels of the crude oil spill in Nigeria in December 2011. [31] Bonga Field produces around 200,000 barrels a day. The spill was among the worst off the coast of Nigeria in 10 years. [32] 280,000 barrels of oil were estimated spilled in 2008 in two leaks in the Bodo region in the Ogoni district in 2008. [33]
The Dangote Refinery is an oil refinery owned by Dangote Group that was inaugurated on 22 May 2023 [1] in Lekki, Nigeria.When fully operational, it is expected to have the capacity to process about 650,000 barrels of crude oil per day, making it the largest single-train refinery in the world.
Oloibiri Oilfield was discovered on Sunday 15 January 1956 by Shell Darcy. [10] It was the first commercial oil discovery in Nigeria; this discovery ended 50 years of unsuccessful oil exploration in the country by various international oil companies and launched Nigeria into the limelight of the Petro-State.