Bloomberg News

Nigeria’s Crude, Gas Production Declined 6% in Third Quarter

February 24, 2012

Feb. 24 (Bloomberg) -- Nigeria’s crude and natural-gas output fell 6 percent in the third quarter, according to state- owned Nigerian National Petroleum Corp.

Average daily output fell to 2.38 million barrels, compared with 2.53 million barrels a year earlier, the Abuja-based company known as NNPC said today in a statement on its website.

Gas output dropped to 600.25 billion standard cubic feet from 636.66 billion during the same period. The West Africa country flared 123.3 billion standard cubic feet of gas, or 21 percent of the total, NNPC said.

Nigeria is Africa’s largest oil producer. Royal Dutch Shell Plc, Exxon Mobil Corp., Chevron Corp., Total SA and Eni SpA run joint ventures with NNPC that pump most of the country’s crude.

--Editors: Rachel Graham, Raj Rajendran

To contact the reporter on this story: Elisha Bala-Gbogbo in Abuja at ebalagbogbo@bloomberg.net;

To contact the editor responsible for this story: Dulue Mbachu in Lagos at dmbachu@bloomberg.net


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