Nigeria now second largest producer in Africa as oil output rises to 1.18m bpd.

OPEC Africa member countries
1. Libya: 1.19m bpd
2. Nigeria: 1.18m bpd
3. Angola: 1.13m bpd
4. Algeria: 939k bpd
5. Congo: 272k bpd.

Other OPEC members
6. Saudi Arabia: 8.91m bpd
7. Iraq: 4.07m bpd
8. UAE: 2.89m bpd
9. Kuwait: 2.55m bpd
10. Venezuela: 820k bpd
11. Equatorial Guinea: 56k bpd

Note: Output performance was based on direct communication covering the month of August 2023

OPEC, August 2023.
#TheCableIndex

https://twitter.com/thecableindex/status/1701970024867459321?t=oWL5KkpkUatfPsk6nEWdaA&s=08


Nigeria’s crude oil production rose in August – OPEC

The report also noted that crude oil production in Saudi Arabia, Angola and Venezuela declined in the same month. Increased crude production by Iran, Nigeria and Iraq, inspired a boost in the August production by the Organisation of Petroleum Exporting Countries, the group said.

Oil production from the 13 members of the organisation, OPEC, averaged 27.45 million barrels per day (mb/d) in August 2023, higher by 113 thousand barrels per day (tb/d) on a month-on-month, OPEC said in its Monthly Oil Market Report released Tuesday.

The report also noted that crude oil production in Saudi Arabia, Angola and Venezuela declined in the same month. Nigeria’s crude oil production climbed to 1,269 million barrels per day, from 1,171 million in July 2023, while Angola’s output fell 60,000 bpd to 1.155 million barrels a day from 1,175 in July, an OPEC survey, which cites secondary data sources, said.

However, according to the oil cartel’s direct communication data, Nigeria’s crude oil production climbed to 1,181 million barrels per day, from 1,081 million in July 2023. OPEC indicated it gets its crude oil production figures mainly from two sources, either as direct communication by member countries or by information released by secondary energy intelligence platforms.

Nigeria’s August crude production was 98,000 barrels higher than its July production figure as the country continues to recover from a heavily disrupted crude sector plagued by oil theft and pipeline vandalism. Over the years, crude theft and pipeline vandalism and its negative impact on the country’s economy have been a source of concern to the Nigerian government.

In a bid to curb crude theft, the Nigerian National Petroleum Company Limited (NNPCL) launched an application in August last year to monitor the incidence of theft and vandalism. The NNPCL also awarded a multibillion naira pipeline surveillance procurement to a former leader of the Movement for the Emancipation of Niger Delta, Government Ekpemupolo.

Earlier in July, the Defence Headquarters said troops of the armed forces have, in the last three weeks, discovered and destroyed 30 illegal refining sites and 125 storage tanks in various operations in the South-south.

Abdullahi Ibrahim, a brigadier general, who spoke on behalf of the Director, Defence Media Operations, at the bi-weekly media briefing on the operations of the armed forces said 227 ovens, 11 dugout pits and 21 wooden boats were also destroyed by troops of Operation DELTA SAFE while conducting Operation OCTOPUS GRIP.

He said troops also recovered 1,675,700 litres of crude oil, 74,500 litres of Automotive Gas Oil, ten vehicles, 20 motorcycles, eight weapons and 330 assorted ammunition during the operation.

https://www.premiumtimesng.com/business/business-news/625278-nigerias-crude-oil-production-rose-in-august-opec.html nlfpmod Seun

High production is okay, I wish there's strategic leadership that can turn Nigeria around before the demand for crude drops drastically in the near future, as much as possible crude should be offloaded in exchange for better fortune for all, that's if the system can work.

Lol 1.18 still low compare to Dubai.....

will that make the fuel price to come down ? No

will that increase improve the lives of Nigerians ? No

will that make our Naira to gain it value ? No

So in essence thier is no point celebrating

Hope it translates to something progressive for the cause of this nation? Because all the revenue accruing to the NNPC from all these crude oil sales never meant Nigeria any good.

Is there anything to show for that?

Most of it are being Stolen cos no evidence to show say Na we be Second Largest Oil Producer!! But i trust President Tinubu to do something Positive about this

See how Saudi Arabia,Libya, Tunisia and other opec African countries that are doing well.

Their citizens are enjoying the gift of natural resources called crude oil from God.Why Nigeria own come different?
The crude oil wey we suppose dey enjoy the proceeds from na politicians come dey amass the money with reckless abandoned.

How does this change the poor life of the common man on the street tht this APC Govt have impoverished eve since they grabbed power

Good news.

Acekidc4:
Most of it are being Stolen cos no evidence to show say Na we be Second Largest Oil Producer!! But i trust President Tinubu to do something Positive about this

Can a thief guard a thief ?

Revolution2022:
See how Saudi Arabia,Libya, Tunisia and other opec African countries that are doing well.

Their citizens are enjoying the gift of natural resources called crude oil from God.Why Nigeria own come different?
The crude oil wey we suppose dey enjoy the proceeds from na politicians come dey amass the money with reckless abandoned.

It’s a matter of time. If we can reach the 2m mark, it will at least give us a good footing.

Before you compare Nigeria and UAE, think about the population difference.

If Lagos alone for example is enjoying all the FAAC monthly, don’t you think Nigeria (Lagos) would be more developed? That’s using population as an example.

Lastly, even with this small one, our government can do more. We believe in Tinubu and I personally hope to start seeing all the development that he will bring as time goes on.

Revolution2022:
See how Saudi Arabia,Libya, Tunisia and other opec African countries that are doing well.

Their citizens are enjoying the gift of natural resources called crude oil from God.Why Nigeria own come different?
The crude oil wey we suppose dey enjoy the proceeds from na politicians come dey amass the money with reckless abandoned.

You people need to grow up.

Nigeria cannot take care of 220 million people just by selling crude oil.

No country with Nigeria's kind of population became rich by exporting one product.

Nigeria needs to diversify her economy.

Revolution2022:
See how Saudi Arabia,Libya, Tunisia and other opec African countries that are doing well.

Their citizens are enjoying the gift of natural resources called crude oil from God.Why Nigeria own come different?
The crude oil wey we suppose dey enjoy the proceeds from na politicians come dey amass the money with reckless abandoned.

Nigeria’s real wealth is its population, not crude oil.

Dubetex96:



Can a thief guard a thief ?

We should be asking you closet clandestine rogue?

SmartPolician:


You people need to grow up.

Nigeria cannot take care of 220 million people just by selling crude oil.

No country with Nigeria's kind of population became rich by exporting one product.

Nigeria needs to diversify her economy.

It is corruption.

Egypt produces around 600,000 barrels daily.
Egypt has functional refineries owned by their government.

Egypt is generating about 59,000 megawatts. Most of the power plants are owned by Egyptian government.

What are Nigerian leaders doing with our oil money?

Revolution2022:
It is corruption.

Too many lazy minded people without innovation.

Colonial mentality, replaced with military mentality in a democratic dispensation.

We should be producing nothing less than 3mbpd and not 1.18bpd. We used to produce 2mbpd before so how did we get to this very low level?

favor914:
Too many lazy minded people without innovation.

Colonial mentality, replaced with military mentality in a democratic dispensation.

Don't force your opinion on me.I no be asslicker.

seunmsg:
We should be producing nothing less than 3mbpd and not 1.18bpd. We used to produce 2mbpd before so how did we get to this very low level?

Produce Kwa!If nobody come buy nko?

Revolution2022:
See how Saudi Arabia,Libya, Tunisia and other opec African countries that are doing well.

Their citizens are enjoying the gift of natural resources called crude oil from God.Why Nigeria own come different?
The crude oil wey we suppose dey enjoy the proceeds from na politicians come dey amass the money with reckless abandoned.

Tunisia is not OPEC it is not a petrol producer country

In essence Ebele Jonathan was a thief who couldn't guide himself.

Dubetex96:



Can a thief guard a thief ?