Nigeria Cuts Output To Obey Quota Instructions

Nigeria is currently taking action, under OPEC guidelines to curtail its monthly national production.

It is happening for the first time in a long while.

The country’s regulatory authorities have instructed some companies to dial down production from their largest producing fields.

One clear case is the TOTAL operated Egina, which averaged 203,000BOPD in August 2019. It would be expected to produce 180,000BOPD in October 2019 and 159,000BOPD has generally been exempted from OPEC quota.

There are likely to be implications for Nigerian budget expectations, which is deficit planning.

 

 



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