fbpx

Nigeria’s rig count drops by six

Nigeria’s oil production has recently declined according to the latest data from the Organization of Petroleum Exporting Countries (OPEC).
The country’s drop from 34 in October to 28 in November, and Kuwait’s figure of 44 from 50 in October, is recorded as the highest decline among the members of OPEC.
According to a report by Vanguard, OPEC will embark on a 800 000 barrels per day production cut for the next six months, with Nigeria contributing about 40, 000 barrels.
Reports show that only three OPEC members have recorded upward figures; namely Ecuador, Angola and Iraq, with Ecuador being the being the leader of the pack.

Share This Article

Share on twitter
Share on facebook
Share on linkedin
Share on reddit
Share on whatsapp
Share on email
Energy Capital & Power

Energy Capital & Power

Energy Capital & Power is the African continent’s leading investment platform for the energy sector. Through a series of events, online content and investment reports, we unite the entire energy value chain – from oil and gas exploration to renewable power – and facilitate global and intra-African investment and collaboration.

Subscribe to our newsletter

Sign up for latest news and event info

Copyright © 2021 Energy Capital & Power. Privacy Policy · Terms of Use