EIA expects Nigeria’s oil production to remain low till 2017 – Guardian

The United States Energy Information Administration (EIA), expects Nigeria’s oil production to remain depressed through 2017, as a result of militant attacks.

The EIA, which made this disclosure in a media statement on Monday, said that because payouts are just one of the Niger Delta Avengers (NDA’s) many demands, crude oil production stoppages are likely to continue until the Nigerian government and the NDA can reach a comprehensive agreement.

According to the EIA, crude oil production disruptions in Nigeria reached 750,000 barrels per day (bpd) in May 2016, the highest level since January 2009.

It added that the increased disruptions come as militants continue to focus attacks on oil and natural gas infrastructure in the West African region. EIA stated: “Nigeria is a member of the Organisation of the Petroleum Exporting Countries (OPEC), and was Africa’s largest oil producer until Angola’s oil production surpassed Nigeria’s earlier this year.

“Nigeria’s crude oil production disruptions are concentrated in the Niger Delta region, an oil-rich area bordering the Gulf of Guinea that is the mainstay of the country’s crude oil production. Since the beginning of 2016, NDA have conducted many attacks on oil and natural gas infrastructure throughout the region. Although not the only militant group conducting attacks in the region, the NDA is currently the most active.”

Read more at http://guardian.ng/business-services/eia-expects-nigerias-oil-production-to-remain-low-till-2017/