MON DEC 16 2024-theGBJournal| Nigeria solidified its position as Africa’s top oil producer in November, with production rising to 1.48 million barrels per day (bpd), surpassing Algeria and Congo, according to OPEC’s latest report.
This increase coincides with OPEC’s overall production growth of 104,000 bpd, driven by gains in Libya, Iran, and Nigeria, despite production cuts by major producers like Saudi Arabia and Iraq.
Meanwhile, Dangote Refinery marked a milestone by exporting its first Premium Motor Spirit (PMS) shipment to Cameroon, strengthening intra-African trade and showcasing its capacity as Africa’s largest refinery.
This collaboration with Neptune Oil is set to enhance Cameroon’s energy security and economic growth while stabilizing regional fuel prices.
Additionally, Seplat Energy Plc completed its $800 billion acquisition of ExxonMobil’s Nigerian onshore assets, doubling its production capacity to 120,000 barrels of oil equivalent per day.
The deal underscores Seplat’s commitment to sustainable growth, environmental standards, and fostering relationships with government and local communities while leveraging MPNU’s robust asset portfolio to maximize stakeholder value.
Together, these developments highlight Nigeria’s strategic importance in Africa’s evolving energy landscape.
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