O&G Members Banner

Oil Gas Investing In Africa

EIA Oil & Gas Regional Profile: Nigeria

By:
Posted: 10/03/2013

Nigeria's hydrocarbon resources are the mainstay of the country's economy, but development of the oil and natural gas sectors is often constrained by instability in the Niger Delta

Nigeria is the largest oil producer in Africa and has been a member of the Organization of Petroleum Exporting Countries (OPEC) since 1971. In 2011, Nigeria produced about 2.53million barrels per day (bbl/d) of total liquids, well below its oil production capacity of over 3 million bbl/d, due to production disruptions that have compromised portions of the country's oil for years.

The Nigerian economy is heavily dependent on its hydrocarbon sector, which account ted for more than 95 percent of export earnings and more than 75 percent of federal government revenue in 2011, according to the International Monetary Fund (IMF).

In this wide-ranging 18 page report by the US Energy Information Administration (EIA) learn more about Nigeria’s history, present and future in oil and gas.


Have Your Say
Rate this feature and give us your feedback in the comments section below
To continue viewing this content please fill out the form below and become an Oil & Gas member.
Or if you're already a Oil & Gas member, sign in below to download.
Join

By entering in your information and submitting the form, you give the sponsor permission to contact you regarding their product and you agree to our User Agreement, Privacy Policy, and Cookie Policy.

By:
Posted: 10/03/2013