The Oil Drum | DrumBeat: July 30, 2008

358 comments on DrumBeat: July 30, 2008

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Gwydion on July 30, 2008 - 9:28am

This is linked to over at bloomberg:

Nigeria’s Oil Production Drops Below 1mbpd
Can’t meet 2.1mbpd OPEC quota

There are strong indications that Nigeria, the sixth biggest oil producer in the world and Africa’s biggest oil producer, can no longer meet the Organisation of Petroleum Exporting Countries (OPEC) production quota.

The country’s current production level has dropped below 1 million barrels per day (mbpd) owing to frequent shut-ins due to renewed attacks on oil facilities in the Niger Delta region.
Prior to the escalation of violent attacks on oil installations, Nigeria produced between 2.5 and 2.6 million barrels of crude oil per day.

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Undertow on July 30, 2008 - 9:35am

If this is correct then Nigeria is now more than 850k bpd below expected July daily production.

OPEC Oil Output Rising in July: Petrologistics

Nigerian supply, which has been reduced by attacks on oil installations by militants in the Delta region, is expected to be little changed in July at 1.85 million bpd.

Shell warns on Nigeria oil exports after attacks

The Anglo-Dutch giant declared force majeure on its Bonny Light crude oil exports for July, August and September, freeing itself from contractual obligations, after Monday's attack by the Movement for the Emancipation of the Niger Delta (MEND).

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Gwydion on July 30, 2008 - 9:46am

Hard to say. The article gives a list of attacks and some numbers for reduced production in each case, but the source for these is an unnamed oil minister (at least, it looks that way).

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