Nigerian oil output slumps to 1.676 mil b/d in March: ministry

5 Apr 2017   Nigeria

Nigeria’s crude oil and condensate production averaged 1.676 million b/d in March, a fall of over 200,000 b/d from the previous month, the country’s petroleum ministry said Tuesday. The ministry said the country’s oil output was 1,676,045 b/d in March, down from around 1.9 million b/d in February, but it did not provide the reason for the sharp month-on-month fall. However, sources close to the matter said output was down mainly due to maintenance at the Bonga field, which averages around 150,000-200,000 b/d. Shell said in early-March that Bonga production would be shut in for about four to five weeks due to turnaround maintenance and engineering upgrades at the Bonga floating, production, storage and offloading (FPSO) vessel. Nigerian oil production still remains sharply below its capacity of 2.2 million b/d, with the main export grade Forcados still shut in. But Nigerian oil output has recovered gradually this year as […]

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