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HomeBUSINESSAngola Overtakes Nigeria As Africa’s Biggest Oil Producer

Angola Overtakes Nigeria As Africa’s Biggest Oil Producer

Angola has overtaken Nigeria as Africa’s top oil producer as a result of an abysmal oil production output in May. 

Data obtained from the Organisation of the Petroleum Exporting Countries (OPEC) revealed that Nigeria’s oil production declined by 195,000 barrels per day (bpd) to 1.02 million bpd in May from 1.22 million in April, based on direct communication.

The information was contained in OPEC’s Monthly Oil Market Report for May 2022, Angola’s oil production, however, stood at 1.16 million bpd in May, based on direct communication. In spite of the decline, non-OPEC liquids production, including OPEC Natural Gas Liquids (NGLs), is estimated to have increased in May by a minor 23,000 bpd monthon- month to an average 70.2 million bpd, but was higher by 1.7 million bpd year-on-year. The report showed that six countries increased their crude oil output, while seven countries declined in production.

According to the report, total OPEC-13 crude oil production averaged 28.47 million barrels per day in May 2022, lower by 239,000 barrels per day month-onmonth. It noted that Saudi Arabia increased output from 10,366 tb/d in April to 10,417 tb/d in May, United Arab Emirates increased from 3,015 tb/d to 3,042 tb/d, while Kuwait jumped from 2,662 tb/d to 2687tb/d. 

The report showed that Angola increased its crude oil output from 1,168 tb/d in April to 1,176tb/d in May, Algeria improved from 1,003 tb/d to 1,007tb/d, while Congo slightly moved up from 262tb/d to 268tb/d.


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