Friday 29 July 2011

Nigeria oil output on 15-year high

Nigerian oil output has rebounded to levels not seen in years, but crucial issues after April elections remain unresolved and could have a major impact on future growth.

The boost in production has occurred thanks to relative calm in the main oil region, the Niger Delta, hit by years of militant attacks before the 2009 amnesty deal. According to OPEC’s 2010 figures, Nigeria overtook Iran as the organisations’s second-largest crude exporter.

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