Nigeria’s oil production crashes below 1.5 m barrels per day

Daily oil production from Nigeria yesterday crashed below 1.5 million barrels, representing a loss of over 1 million barrels as ExxonMobil on Wednesday became the fourth oil major in a month to warn customers over delays to Nigerian oil and gas exports. Nigeria, which produces about 2.4 million barrels daily, depends largely on proceeds from oil to service over 85 per cent of its annual budget and this loss of over 1 million barrels poses a fresh threat to the country’s budget.

http://thenationonlineng.net/new/business/nigerias-oil-production-crashes-below-1-5-m-barrels-per-day/

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