Nigeria Exceeds OPEC+ Oil Output Cut Quota

Noah Browning
Wednesday, June 10, 2020

Nigeria did not fully comply with a pact by oil producers to rein in output to balance markets but will make additional cuts to make up for the lapse, the head of the Nigerian National Petroleum Corporation Mele Kyari said on Wednesday.

Nigeria had exceeded its quota for production cuts under an OPEC+ deal by a little less than 100,000 barrels per day (bpd) in May, Kyari said in an online interview with Dubai-based research firm Gulf Intelligence.

Africa's top oil exporter aims to reach full compliance by "maximum, middle of July", Kyari said, adding the country will at that point need to cut an additional 40-45,000 bpd in order to compensate for its earlier over-production. 

(Reporting by Noah Browning, editing by Louise Heavens)

Categories: Energy Activity Oil Production Africa

Related Stories

Trident Energy to Restart Drilling Campaign Off Equatorial Guinea with Noble Venturer Drillship

Türkiye Aims to Drill for Oil Off Somali Coast Next Year

BP Starts Oil Production at Major New Platform Offshore Azerbaijan

Current News

Talos Energy Makes Leadership Team Changes

SOVs – Analyzing Current, Future Demand Drivers

Equinor Cleared for Drilling Ops at Johan Castberg Field with Transocean Enabler Rig

Skanska Set for South Brooklyn Marine Terminal Buildout

Subscribe for OE Digital E‑News