US EIA predicts Nigeria’s oil production to stay low through 2017

oil pipe rig hanmaominCrude oil supply disruptions in Nigeria rose to 750,000 barrels per day (bpd) in May 2016. (Image source: hanmaomin)The United States Energy Information Administration (EIA) expects Nigeria oil production to remain low till 2017, following a number of militant attacks in the country

The EIA noted that one of the Niger Delta Avengers (NDA’s) many demands are payouts, adding, oil output will continue to freeze until the Nigerian government and the NDA can reach an agreement.

According to the EIA, crude oil supply disruptions in Nigeria rose to 750,000 barrels per day (bpd) in May 2016, the highest level since January 2009.

The EIA stated, “Nigeria is a member of the Organisation of the Petroleum Exporting Countries (OPEC) and was Africa’s biggest oil producer until Angola’s oil production outweighed Nigeria’s earlier this year.

“Nigeria’s crude oil production disruptions are concentrated in the Niger Delta region, an oil-rich area bordering the Gulf of Guinea that is the mainstay of the country’s crude oil production. Since the beginning of 2016, NDA have conducted many attacks on oil and natural gas infrastructure throughout the region. Although not the only militant group conducting attacks in the region, the NDA is currently the most active.”

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?