Nigeria regains position as Africa’s largest oil exporter
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Nigeria’s crude oil exports are set to reach 1.84 million barrels per day (bpd) in July, according to a report.
The new figure is slightly higher because of a recovery in Forcados exports, according to the nation’s loading programmes seen Wednesday.
Forcados exports resumed at the end of May after a nearly complete shutdown since February 2016.
Meanwhile, the grade’s operator, Shell’s local subsidiary SPDC, issued an initial June schedule of 197,000 bpd.
It, however, increased the schedule to 252,000 bpd.
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By the resumption, Nigeria returns to the status of Africa’s largest oil exporter, a title it lost to Angola in 2016.
The loss followed militant attacks on the nation’s oil infrastructure in the oil-rich Niger Delta region.
Production has since improved, following peaceful negotiations with leaders from the region.
Angola’s July exports are expected to be 1.55 million bpd, Reuters reports.
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