Photo credit

Nigeria currently ranks seventh on the Organization of the Petroleum Exporting Countries list of crude oil producers. October production in Nigeria was just 1.014 million barrels per day, placing her seventh behind Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, Angola and Algeria. In Nigeria October production was 1,014 mb/d while in Angola it was 1,051 mb/d. Algeria, 1,060mb/d. Kuwait 2,811 mb/day. United Arab Emirates, 3.188 mb/day. Iraq, 4,651 mb/d. Saudi Arabia, 10. 957mb/day. Venezuela produced 711 b/d, while Equatorial Guinea produced 57 b/d. Countries such as Gabon, Libya and Iran produced no barrels this month. Nigeria once ranked fifth in crude oil production, followed by Angola and Algeria. West Africa’s largest economy has had a tough road as oil production is plagued by theft and pipeline vandalism. A recent report by The Lightgospel revealed that the country lost N415 billion in two months due to the closure of nine crude oil terminals.

Leave a Reply

Your email address will not be published. Required fields are marked *

Reload Image