Key Nigeria deepwater field 'achieves first oil', adds 200,000 barrels to country's daily output
Nigeria, Jan. 1 -- Nigeria's deepwater oil field, Egina, achieved first oil production late on Saturday, raising the country's daily oil production above 2.09 million barrels in December 2018, the Nigerian National Petroleum Corporation has announced.
With the Organization of Petroleum Exporting Countries (OPEC) latest output cut resolution taking effect Tuesday, January 1, Nigeria's daily oil production should now been reduced to 1.71 million barrels.
On December 9, OPEC resolved to cut 2.5 per cent, or about 800,000 barrels from its October 2018 production levels, to boost crude oil prices and stabilize the international oil market.
The decision cut Nigeria's output further by about 43,775 barrels, from about 1.751 million barrels la...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.