Angola Cedes to Nigeria Its Position as Main Oil Producer in Africa

Angola Cedes to Nigeria Its Position as Main Oil Producer in Africa

Engin OZER Engin OZER
09/04/2018
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09.04.2018 - Luanda / Angola ceded the position of the largest oil producer in Africa to Nigeria, according to the monthly report of the market in March of the Organization of Petroleum Exporting Countries (OPEC), published here today.

 The security problems in the Niger Delta caused Nigerian production to fall to 1.43 million barrels per day by the end of 2016, which allowed Luanda to take its role, but that situation changed again.

 At that time, Angola reported the pumping of 1.72 million barrels, almost 300 thousand more than its competitor did. This situation, with less difference, prevailed during almost all 2017.

 Therefore, while Angola reported 1.63, Nigeria did it with 1.51 million. However, in December of last year, Nigerians extracted 1.57 against 1.55 million from their neighbors further south.

 Last January the favorable difference to Abuja grew 59 thousand barrels, and in February, it was 234 thousand barrels.

 During March, Nigeria already reported daily production of 1.81 million barrels against 1.61 million barrels of Angola, which had a decrease of 17 thousand barrels compared to last February.

 Angola, whose higher income depends on the export of crude oil, suffers the decline in the yield of its mature fields together with the almost null exploitation of new wells since 2011.

plenglish.com

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