Libya has eclipsed Nigeria as Africa’s largest oil producer following a recent drop in the West African nation production, the Organization of the Petroleum Exporting Countries (OPEC) has revealed.
In its latest Monthly Oil Market Report (MOMR) seen by Ripples Nigeria on Sunday, OPEC noted that Libya directly reported an increase of 84,000 barrels per day to move from 1.161 million barrels (mbpd) per day in September to 1.244 mbpd in October.
Nigeria’s direct production level dropped to 1.228 mbpd in October from roughly 1.247 mbpd in September.
However, the analysis of OPEC secondary data revealed that Nigeria’s oil production fell to 1.354 mbpd in October from 1.399 mbpd in September.
The Minister of State for Petroleum Resources, Sylva Timipre, and the Managing Director of the Group Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, had recently blamed the country’s falling production figures on faulty facilities.
They, however, expressed confidence that Nigeria would recover from the challenges by the middle of this month.
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