Nigeria’s Oil Boom Meets Its Refining Headache ...Middle East

Nigeria is pumping more crude and drilling harder than it has in years, thanks to reforms under President Bola Tinubu that are finally coaxing cash back into the upstream. Daily output has climbed to between 1.7 and 1.83 million barrels, while active rigs surged from 31 in January to 50 by mid-year, Minister of State for Petroleum Heineken Lokpobiri told delegates at Africa Energy Week. The turnaround is pinned on the “Project One Million Barrels” initiative and the long-delayed Petroleum Industry Act, which the government insists has…

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