Article

2008-05-23 Africa Subsaharan

Angola overtakes Nigeria in oil production

President Umaru Musa Yar'Adua has expressed displeasure with the recent leapfrogging of Nigeria by Angola which assumed Nigeria's position as number one oil producing nation in Africa, a position Nigeria has maintained since 1978.

A senior official in the presidency told LEADERSHIP recently that the presidency is highly disturbed by the development, saying that "it is unfortunate that Angola a new entrant into the Organisation of Petroleum Exporting Countries (OPEC) has over taken the country in crude oil production as a result of avoidable circumstances".

Angola overtook Nigeria as Africa's largest oil producing nation in April, according to a platts survey. The swift change in position has been attributed to the continued unrest and insecurity in the Niger Delta region that houses the oil wealth of the nation. The region has over the years witnessed untold militant attacks over neglect and underdevelopment of the area, while successive governments have made efforts at tackling the problem, situation continues to take new dimensions.

So it isn't because Angola has been all that more productive ...

According to OPEC statistics in April, Angola reached a production rate of 1.92 million barrels per day (bpd), slightly below its potential of 1.93 million bpd, according to the OPEC. Nigeria produced 1.88 million bpd in April, three-quarters of what OPEC estimates to Nigeria's production capacity of 2.5 million bpd, Angola, one of OPEC's newest members, has gradually increased its production with new offshore oilfields, while Nigeria has been plagued by persistent supply disruptions.

Angola's new position has been for long anticipated by analysts in the oil sector and they sited the unrest in the Niger Delta region and the recent long strike action by oil workers at Exxon Mobil under the auspices of PENGASSAN as potential factors.

Posted by Steve White 2008-05-23 00:00|| || Front Page|| [11134 views ] Top

#1 Nigeria should ship muzzies south.

Posted by Nimble Spemble 2008-05-23 09:40|| 2008-05-23 09:40|| Front Page Top

#2 Way way south, NS. Penguins may protest, though.

Posted by twobyfour 2008-05-23 15:37|| 2008-05-23 15:37|| Front Page Top

#3 #1 Nigeria should ship muzzies south.
Posted by: Nimble Spemble 2008-05-23 09:40

Nigeria has enough of a headache with the muzzies in the north of their country. AFAICT, there isn't a large muzzie population in Angola - yet. From what I've been reading in various sources, there's growing optimism in developing offshore oil reserves all along the Atlantic coast of Africa from Nigeria to Namibia, so Nigeria may never regain its previous number one position.

Posted by Galactic Coordinator Stith">Galactic Coordinator Stith 2008-05-23 17:15|| http://oldpatriot.blogspot.com/]">[http://oldpatriot.blogspot.com/] 2008-05-23 17:15|| Front Page Top

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