Home Business & Economy Nigeria beats Angola to regain position as Africa’s largest oil exporter

Nigeria beats Angola to regain position as Africa’s largest oil exporter

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Nigeria’s crude oil exports are set to reach 1.84 million barrels per day (bpd) in July, according to PremiumTimes. The new figure is slightly higher because of a recovery in Forcados exports, according to the nation’s loading programmes seen Wednesday. .

Forcados exports resumed at the end of May after a nearly complete shutdown since February 2016. Meanwhile, the grade’s operator, Shell’s local subsidiary SPDC, issued an initial June schedule of 197,000 bpd. It, however, increased the schedule to 252,000 bpd. .

By the resumption, Nigeria returns to the status of Africa’s largest oil exporter, a title it lost to Angola in 2016. The loss followed militant attacks on the nation’s oil infrastructure in the oil-rich Niger Delta region. Production has since improved, following peaceful negotiations with leaders from the region.


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