

Nigeria leads other African countries in oil production
Mon, 25 Jan 2010 10:14TradeInvest Nigeria Staff
Nigeria led other African countries in December 2009 oil production which hit 1.984 million barrels per day from 1.941 million bpd a year ago.
Business Day reports Angola has fallen to the second position with its December production level coming down to 1.856 million bpd from 1.877 million bpd a year ago.
Renaissance Capital said Nigeria's oil output increased 2.2% on a month-on-month basis and 3.7% on a year-on-year basis. Nigeria's figures do not include condensate which is around 400 barrels per day.
The decline in Nigeria's oil production since the start of the 2000s are largely due to attacks on facilities belonging to oil companies, as well as the lack of new investment in the industry.


