Nigeria and Angola struggle to reverse quota failures
The inability of Opec+ to meet its increased production target is due in part to significant shortfalls from the two African suppliers
Nigeria’s and Angola’s oil output is likely, for differing reasons, to continue to fall short of Opec+ quotas in 2022 and might continue to underperform in coming years. “Nigerian production had a bad year in 2021,” says Richard Bronze, head of geopolitics at consultancy Energy Aspects, due “to a combination of various technical issues and disruptions as well as a general backdrop of insufficient investment to sustain capacity”. Many of Nigeria’s most prominent crudes were impacted by technical or operational problems, particularly in the second half of the year. Most of these issues are temporary and can be fixed, says Gail Anderson, research director at consultancy Wood Mackenzie. But “in
Also in this section
19 December 2024
Deepwater Development Conference welcomes Shell’s deepwater development manager to advisory board for March 2025 event
19 December 2024
The government must take the opportunity to harness the sector’s immense potential to support the long-term development of the UK’s low-carbon sector
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!