Shell: Nigerian oil and gas production is falling
"Nigeria's oil and gas production has not only failed to grow, it has fallen every year since 2005," says Pickard. "Investment in the industry has stalled. Final investment decisions are not being taken in deep water and, unlike Australia, no new liquefied natural gas (LNG) projects have been approved onshore. As a result, other countries are catching up with Nigeria fast."
In 2009 Nigerian crude oil production fell to 1.82 million barrels per day from 1.94 million b/d, according to the US
More on Energy
Most read on Risk.net
- Quant Finance Master’s Guide 2019
- People moves: SocGen adds in prime services, Deutsche fills new rates hole, HSBC makes model move, and more
- Brexit threatens to reopen Asian bail-in clauses for EU banks
- Podcast: Kenyon and Berrahoui on the pitfalls of PFE
- Cross-currency swaps could hasten RFR shift in Australia
Back to Top