Market Report, "Nigeria Oil & Gas Report Q2 2014", Published
Nigeria's hydrocarbon sector continues to struggle amid a worsening political and business environment. Most recently, Chevron's decision to move out of the OKLNG project signals that even the large upside potential of the Nigerian gas market is not sufficient to offset the degradation in investor sentiment. The weak output flows in 2012 and 2013 were the consequence of flooding, repeated oil thefts and regulatory uncertainty. We estimate that total oil production for 2013 declined to about 2.4mn barrels per day,...
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