According to figures from the Organization of the Petroleum Exporting Countries (OPEC), Nigeria maintained its position as the top oil producer in Africa for two consecutive months by pumping 1.235 million barrels per day (bpd) in December.
Based on direct contact, the most recent monthly oil market report issued by OPEC on Tuesday indicates that Nigeria’s oil output climbed by 50,000 bpd.
Timipre Sylva, minister of state petroleum resources, claimed last month that increased security surveillance along significant crude oil pipelines is assisting in boosting oil production from 900,000 to between 1.4 and 1.6 million barrels per day.
At the 13th Global UAE Energy Forum, recently conducted, Mele Kyari, group chief executive officer, Nigerian National Petroleum Company (NNPC) Limited, stated that towards the end of December, Nigeria was pumping 1.519 million bpd.
Based on direct communication, the data for December showed that Algeria produced 1.01 million bpd of oil, while Angola produced 1.088 million bpd.
The 13-member oil cartel also disclosed in the report that Saudi Arabia had the largest loss among OPEC members last month, losing 32,000 bpd.
Source: BusinessDay NG
