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Nigeria production falls in May

OIL

Nigerian Crude and condensate production in May fell 14% from April to 1.279mbpd, the lowest in more than three decades, according to estimates from S&P Global.

  • Nigerian crude oil output has been hit by pipeline closures and maintenance at major fields.
  • Exports of Bonny Light and Qua Iboe were down due to maintenance but output was gradually returning according to the oil ministry.
  • Reports of repeated sabotage to the Nembe Creek and Trans Forcados pipelines have resulted in sporadic flows in the past month.
  • Nigeria has a reported crude and condensate production capacity of approximately 2.2mbpd.

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