Angola Overtakes Nigeria to Become Africa's Top Crude Oil Producer in April

• Angola has surpassed Nigeria to become Africa's top oil producer, and Libya is also closing in
• Nigeria lost its status after in April after recording the lowest crude oil production in seven months
• The new status is captured in the Organization of Petroleum Exporting Countries (OPEC) latest monthly report

Angola has overtaken Nigeria as Africa's top oil producer following a dismal oil production output in April 2023.

According to data released on Thursday, May 11, 2023, by the Organization of the Petroleum Exporting Countries (OPEC), Angola recorded 1.06 million barrels per day of crude production in April 2023.

Meanwhile, Nigeria recorded 999,000 barrels per day for the month of April 2023 and Algeria recorded the same 999,000 barrels per day during the highlighted period, based on direct communication.

The last time Angola overtook Nigeria was in May 2022, when oil theft was rampant.

Read also

"World's largest": 19 Major Facts About Dangote Refinery You Should Know

OPEC data showed that Nigeria's production figure in April was the lowest in seven months.

OPEC countries also report losses

Cumulatively, OPEC's member states' oil production declined by 310,000 bpd to an average of 28.8 million bpd, the lowest level in almost a year, due to a fall in Iraq's exports and pipeline suspension, while a labor strike cut shipments from Nigeria.

OPEC also uses secondary sources to monitor its oil output and publishes a table of figures submitted by its member countries.

According to secondary sources, total OPEC-13 crude oil production averaged 28.60 million bpd in April 2023, lower by 191,000 bpd month-on-month.

For Nigeria, OPEC said that based on secondary data, oil production dropped to 1.18 million barrels per day, surpassing Angola's 1.08 million bpd in April 2023.

Read also

Dangote refinery sets date for first crude batch production as Buhari set to commission complex

Dangote speaks on benefits of his refinery on Nigerian economy

Meanwhile, in another report, Aliko Dangote has spoken on the positive impact of his new oil refinery on Nigeria's economy

The refinery, located in Lagos, is one of the largest in the world and is expected to be launched on May 22, 2023, by President Muhammdu Buhari.

Some of the benefits expected from the refinery include export savings, manufacturing of plastics and textiles, among others.

Source: Legit.ng