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Nigeria’s rig count rises by 2, as OPEC’s decreases by 14

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Nigeria’s rig count rises by 2, as OPEC’s decreases by 14


Nigeria’s rig count rises by 2, as OPEC’s decreases by 14
Stock photo of an offshore oil rig“Without natural capital accountability GDP growth is meaningless’

By Sebastine Obasi

Nigeria has for two months now continued to experience rise in oil production as its rig count moved up by two, having recorded 10 in September, as against eight recorded in August.

Earlier in July, the rig count stood at six, data from the Organisation of Petroleum Exporting Countries, OPEC, showed.

This is happening at a time OPEC rig count decreased by 14, as it recorded 363 in September, as against 377 recorded in August, while global rig count reduced by 31, as it recorded 1,137 in September, as against 1,168 recorded in August. Saudi Arabia joined Nigeria in recording plus two in its rig count, as it posted 85 figure in September, as against 83 posted the previous month. Angola posted plus one, having recorded two in September, as against one recorded the previous month.

Five OPEC members had minus in their rig count within the period under review….



Source: Vanguard Newspaper