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Nigeria's crude oil production decreased to 1.25 million barrels per day in May 2024, down from 1.28 million barrels per day in April 2024. [57] This represents a decline of 30,000 barrels per day and is the second-lowest production level in 2024. Despite this, Nigeria remains the largest crude oil producer in Africa.
Dangote Refinery. The Dangote Refinery is an oil refinery owned by Dangote Group that was inaugurated on 22 May 2023 [1] in Lekki, Nigeria. When fully operational, it is expected to have the capacity to process about 650,000 barrels of crude oil per day, making it the largest single-train refinery in the world.
Oil reserves in Nigeria. Although Libya has more reserves, there were 37.2 billion barrels (5.91 × 109 m 3) of proven oil reserves in Nigeria as of 2011, ranking the country as the largest oil producer in Africa and the 11th largest in the world, averaging 2.28 million barrels per day (362 × 103 m 3 /d) in 2006.
Under this definition (crude and condensate), total world oil production in 2023 averaged 81,804,000 barrels per day. Approximately 72% of world oil production came from the top ten countries, and an overlapping 35% came from the twelve OPEC members. Members of OPEC+, which includes OPEC members produce about 60% of the world's petroleum.
Discovery. in 1956. Bonny Light oil was found at Oloibiri in the Niger delta region of Nigeria in 1956 for its commercial use. [1][2] Due to its features of generating high profit, it is highly demanded by refiners. [3] Bonny light oil has an API of 32.9, classified as light oil. [3][4] It is regarded as more valuable than the other oils with ...
Coal, petroleum reserves, natural gas, peat, hydroelectricity, solar and wind are major energy resources in Nigeria [3][4][5] and the country remains a top producer of crude oil and natural gas in Africa. Its production in 2022 averaged 1.2 million barrels of oil per day (bopd), [6] and 300 barrels per day (bpd) of condensate, making it the ...
The types of crude oil exported by Nigeria are Bonny light oil, Forcados crude oil, Qua Ibo crude oil and Brass River crude oil. [86] The U.S. remains Nigeria's largest buyer of crude oil, accounting for 40% of the country's total oil exports; Nigeria provides about 10% of overall U.S. oil imports and ranks as the fifth-largest source of U.S ...
Agbami Field. Agbami Field is an oil field in Nigeria. Discovered in late 1998, it was the second major deepwater oil field discovered off the Niger Delta, the first being Bonga Field by Shell. The field is located in nearly 1,500 meters (4,900 ft) of water off the central Niger Delta. The operator of the field is Star Deep Water Limited, an ...