Libya Overtakes Nigeria as Africa’s Biggest Oil Producer

Nigeria has lost its Africa’s top oil producer status to Libya as crude oil production fell further last month amid lingering supply disruptions.

According to a report by the Organization of the Petroleum Exporting Countries (OPEC), Nigeria told OPEC that its oil output fell to about 1.23 million barrels per day in October from about 1.25 million bpd in the previous month.

Libya had overtaken Angola as the second-biggest producer on the continent in December last year after its oil production rose from 1.16 million bpd in September to 1.24 million bpd in October.

Nigeria recorded the second biggest drop in output in October among its peers in OPEC, after Iraq, based on direct communication. The country’s production fell the most in the month.

Your Friends Also Read:  Namibia’s Nampower Ready for Eskom Shutdown

It’s production had declined by 45,000 bpd to 1.35 million bpd in October from about 1.40 million bpd in September.

OPEC uses secondary sources to monitor its oil output, but also publishes a table of figures submitted by its member countries.

The 13-member oil cartel said its total crude production averaged 27.45 million bpd in October, higher by 220,000 bpd month-on-month, according to secondary sources.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.
Your Friends Also Read:  SA Warns of New Covid-19 Variant as UK Suspends Flights to Six African Countries



Leave a Reply

Previous Article
One Dead, Four Injured in Nakaseke Bomb Explosion (News Central TV

One Dead, Four Injured in Uganda Bomb Explosion

Next Article

AfDB Launches Climate Change,Green Growth Framework

Related Posts