Angola overtaken by Nigeria in oil production

12 January 2017

Angola was overtaken by Nigeria as the leading oil producer in Africa in November 2016, according to the data included in the latest monthly oil market report from the Organization of Petroleum Exporting Countries (OPEC).

Angola, which for seven consecutive months was in first place, had production of 1.688 million barrels in November, a monthly increase of 181,000 barrels, less than the value reported by Nigeria of 1.782 million barrels, based on a monthly increase of 391,900 barrels per day.

These figures are prior to those recently announced by OPEC member countries, after the organisation agreed to cut production in order to increase the price of oil per barrel, and Angola has already announced it will cut production by 78,000 barrels per day .

The report includes another OPEC oil production table based on secondary sources, and in this both Angola and Nigeria have the same production – 1.692 million barrels a day – although with monthly increases of 124,800 barrels per day for Angola and 62,700 barrels per day for Nigeria.

Nigeria lost the top spot in the list of the largest producers in Africa to Angola at the beginning of last year, following terrorist attacks on oil facilities in the Niger Delta region. (macauhub)