Related Articles
Forward article link
Share PDF with colleagues

Nigeria’s oil output still hampered

An exemption from Opec’s supply deal will mean nothing unless the unrest abates

Alongside Libya and Iran, Nigeria is to be exempt from Opec's proposed - though by no means finalised - supply cuts. It's the least the country's embattled oil and gas sector needs. But it also implies that Nigeria's output can rise to reclaim the loftier levels of 2.2m barrels a day targeted by state company Nigeria National Petroleum Corporation (NNPC). For now, that looks a distant hope. Output remains hamstrung by unrest, at around 1.5m b/d. Despite recent talks between the government and saboteurs in the Niger Delta, the violence continues. In response, so do president Muhammadu Buhari's pledges to crush the unrest. Nonetheless, Nigeria continues to lose its grip on wholesale theft o

Also in this section
Opec ushers in the next market cycle
11 May 2018
Opec and partners have cleared the glut—but will keep cutting. The strategy will support prices, but recreate the conditions that brought about the last bust
China seeks to solidify oil future
4 May 2018
The successful launch of the long-awaited Shanghai oil futures contract showed it is gaining sway in global energy markets
The price is right
5 April 2018
With the help of thirsty consumers and collapsing Venezuelan output, the market seems at last to have found its range