Nigeria’s Oil Producers Are Itching to Pump More
- Nigeria limiting oil production to 1.8 million barrels a day
- Domestic companies are planning to bolster their output
OPEC's Control of the Oil Market Is Running on Fumes
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Add independent Nigerian drillers to the list of oil producers itching to supply more crude at a time when OPEC and allies like Russia are trying to restrict output and prop up prices.
Domestic Nigerian producers are aiming to pump almost 250,000 barrels a day more crude by 2020 as part of a wider plan for the nation to lift output to 2.5 million a day, Oil Ministry data show. Shoreline Group, the third-biggest independent, wants to double output by December with Seplat Petroleum Development Co., the second-largest, also intending to produce more.