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Oil revenue to remain subdued as output dips 15%

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Oil revenue to remain subdued as output dips 15%
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Despite the recent rise in oil prices, there are strong indications that Nigeria is not likely to be out of the woods in its petroleum revenue performance and budget funding, due, mainly to the significant drop in its oil output.
The Vanguard Public Finance Report has indicated that the sector recorded a 15 percent output decline in the first 11 months of this year.
A breakdown showed that the nation produced an average of 1.5 million barrels per day, mb/d, (excluding Condensate) between January and November 2020, indicating a drop of 0.30 mb/d when compared to 1.8mb/d recorded in the corresponding period of 2019. ....

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Nigeria's Oil Output Drops By 14 Percent to an Average of 1.5mb/D

Nigeria's Oil Output Drops By 14 Percent to an Average of 1.5mb/D
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Nigeria's oil output drops by 14% to an average of 1.5mb/d

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Home » Business » Energy » Nigeria’s oil output drops by 14% to an average of 1.5mb/d
Nigeria’s oil output drops by 14% to an average of 1.5mb/d
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By Udeme Akpan, Ediri Ejoh & Prince Okafor
Nigeria might be under pressure to fund its N13.8 trillion 2021 budget following a significant drop of its oil output by 14.08 percent in the first 10 months of 2020, according to data obtained from the Organisation of Petroleum Exporting Countries, OPEC.
A breakdown showed that the nation produced an average of 1.5 million barrels per day, mb/d, (excluding Condensate) between January and October 2020, indicating a drop of 2.5 mb/d when compared to 1.7mb/d recorded in the corresponding period of 2019. ....

United Kingdom , Muhammadu Buhari , Udeme Akpan , Omowumi Iledare , Energy Vanguard , University Of Cape Coast , Ghana National Petroleum Corporation , Organisation Of Petroleum Exporting Countries , National Assembly , Institute For Oil , Term National Development Plan , Kindly Share This Story , Ediri Ejoh , Petroleum Exporting Countries , Bonny Light , Market Report , Non Gas Liquids , Professorial Chair , Gas Economics , Gas Studies , President Muhammadu Buhari , Economic Sustainability , Economic Recovery , Growth Plan , Medium Term National Development Plan , Term Expenditure Framework ,