Nigeria’s crude oil production capacity is expected to decline to 2.46 million barrels per day (bpd) by 2014 from 2.48 million bpd in 2008.
The figures follow more attacks by militants in the Niger Delta this week, which are crippling oil installations and ultimately the nation’s economy.
Yesterday it was revealed that Nigeria’s main militant group had sabotaged one of Chevron’s crude oil pipeline junction points in the Niger Delta.
The Movement for the Emancipation of the Niger Delta (MEND) said that it blew up Chevron’s Okan manifold in the southern Delta state late on Sunday, hours after it attacked an oil well head operated by Royal Dutch Shell.
Meanwhile Shell has restarted operations in many of its Niger Delta facilities with fewer staff due to the frequent attacks by militants on its facilities in the area.