mo4ch:>Africa’s largest oil nation could see production drop 35% | Mo4ch News

Africa’s largest oil producer could see oil production fall by 35 percent as low oil prices and regulatory uncertainty threaten to prompt oil majors to postpone final investment decisions.OPEC member Nigeria is the largest oil producer in Africa and it pumped 1.776 million barrels of oil per day (bpd) in January 2020, according to OPEC’s secondary sources in its monthly report published this week. Adding condensate production, Nigeria’s total oil output exceeds 2 million bpd.However, three deepwater projects offshore Nigeria, operated by oil majors Exxon, Shell, and Total, could see their start-up dates delayed by two to four years to the late 2020s, according to the research WoodMac shared with Reuters ahead of publishing it on Friday.Also on rt.comRussia to bring back to life Nigeria’s major steel plant project, abandoned for decadesThe regulatory changes in Nigeria’s oil industry and the still pending final approval of a petroleum bill - after two decades of delays and wrangling - …