RE: A week after Consolidation8 Oct 2021 23:34
Oct 08, 2021, 1:30 PM CDT
Nigeria, the largest oil producer and exporter in Africa, hopes that its newly adopted petroleum industry law will help it hike its oil production by 310 percent to 4 million barrels per day (bpd), Nigerian Petroleum Minister Timipre Sylva said this week.
Nigeria currently produces just below 1.3 million bpd, as per OPEC's latest official data. The African OPEC member is one of the OPEC producers that have struggled in recent months to pump as much oil as their quota under the OPEC+ deal allows, due to force majeure circumstances at pipelines carrying crude to export terminals.