Nigeria

OPEC

Africa

Production

1.6M bbl/d

Imports

732.5K bbl/d

Exports

2.1M bbl/d

Net Balance

1.3M bbl/d

Net exporter

Consumption by Product

2022 · thousand bpd

Petrol30.6%

Diesel30.6%

Kerosene6.1%

Jet Fuel6.1%

LPG6.1%

Fuel Oil10.2%

Other10.2%

Proven Oil Reserves

37.5B

barrels (proven)

~64 yrs

at current production

Abundant

050 yrs100+ yrs

Proven reserves = crude oil in the ground. Many countries import most of their refined fuel (petrol, diesel, jet fuel), so high reserves don't guarantee fuel supply security.

Production Trend

Price History

Refinery Capacity

Capacity

450 bbl/d

Throughput

100 bbl/d

Utilization

22.2%

Geopolitical Context

OPEC Member

Production quota: 1380K bbl/day

Africa's largest oil producer. Chronic underproduction vs quota due to theft, pipeline sabotage.

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