Gas - Intelpoint

The US imported 425 million barrels of crude oil and other petroleum products from Nigeria in 2005, the highest in the past 32 years.
The US shale boom reduced America’s reliance on foreign crude.
The launch of the Dangote Refinery has increased domestic demand for crude oil, further reducing the amount available for export to the US.
Nigeria, which was regularly a top five crude oil supplier to the US in earlier decades, ranked ninth among its suppliers in 2024.

Production dipped sharply in 2022, with the steepest quarterly decline of –16.08% in Q3, before recovering at year-end.
2023 marked a rebound year, highlighted by strong quarterly growth of 18.85% in Q3, lifting production back above 1.5 mbpd.
2024 showed relative stability, with modest fluctuations; production only briefly fell below 1.5 mbpd before gradually recovering.
By Q2 2025, output hit 1.68 mbpd, the highest in the series, supported by consistent growth in three straight quarters.

Only 37 countries produced bio-diesel in 2023.
No African country produced bio-diesel.
The US remained the dominant producer of bio-diesel with 15.25 million metric tons produced in 2023, which is 36% of the total quantity produced globally.
Germany was the top exporter of bio diesel with 2.18 million metric tons.

Petrol prices in Nigeria rose by 52% between August 2024 (₦830.5) and March 2025 (₦1,261.7).
The highest monthly increase was in September 2024 (+24.1%), while the sharpest drop came in April 2025 (-17.1%).
By July 2025, prices had eased to ₦1,025, still 23% higher than a year earlier.
NNPC retail outlets offered significantly lower prices than the national average, with Abuja as low as ₦880 at the March 2025 peak.
Dangote Refinery offered relatively competitive pricing, ranging from ₦840 to ₦899, creating an alternative supply option.

Nigeria led with 78.9 Mtoe, accounting for over 22% of Africa’s total oil output.
Algeria (59.3 Mtoe) and Angola (57.4 Mtoe) followed closely; the three top producers together supplied] 56% of the continent’s oil.
Africa’s total oil production was 345.5 Mtoe, just 7.6% of the global total (4,542.7 Mtoe).
The top 5 producers accounted for over 80% of Africa’s oil.

The United States of America dominated the production of gas oil with 234,886 metric tons, making up 32.4% of the global total in 2023.
Only four countries in Africa, Niger, Chad, Ghana and Zambia, produced gas oil.
Africa barely produced 0.13% of the global total of gas oil.
Australia imported 25.1k metric tons of gas oil, making it the country with the highest quantity of gas oil import in 2023.

Venezuela and Iran offer diesel at nearly free prices, charging just $0.004 and $0.006 per litre respectively, the lowest globally.
Libya leads Africa with diesel priced at only $0.028 per litre, making it the third cheapest worldwide.
Six African countries—Libya, Algeria, Egypt, Angola, Nigeria and Sudan—feature in the global top 20 for the lowest diesel prices.
Nigeria ranks 17th globally, with diesel priced at $0.658 per litre, despite recent subsidy removals and price hikes.

Libya leads Africa with 48.4 billion barrels of recoverable oil, the continent’s highest.
Nigeria ranks second with 37.3 billion barrels, accounting for about 27% of reserves among top holders.
Algeria holds 12.2 billion barrels, rounding out the top three and far ahead of other nations.
Sudan, Egypt, and Angola each contribute between 2.5 and 5 billion barrels, showing smaller but notable reserves.

Algeria leads Africa with 41 active oil rigs, making up nearly 29% of the continent's total count.
Nigeria follows with 31 rigs, confirming its strong position in West Africa’s upstream oil activity.
Egypt ranks third with 23 rigs, while Libya maintains 18 rigs despite its fluctuating political climate.
The top seven countries host 122 of Africa’s 144 rigs, showing drilling operations are concentrated in just a handful of nations.

The United States remains the undisputed leader with 589 active rigs, accounting for nearly a third of all rigs worldwide in 2024.
Canada (162 rigs) and Iran (117 rigs) follow as the second and third highest contributors to global drilling activity.
Middle Eastern producers dominate the top 10, with Kuwait (80), UAE (73), Saudi Arabia (70), Iraq (62), and Oman (50) collectively operating 335 rigs.
Nigeria ranks 15th globally with 31 active rigs, making it one of only two African nations in the global top 20.
The top 10 countries account for over 75% of the world’s active rigs, reflecting the continued concentration of drilling infrastructure in a handful of key oil-producing regions.

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