Economic news crude oil in nigeria april 2018

Here are some key economic news and statistics related to crude oil in Nigeria for April 2018:

Crude Oil Production and Prices

• Nigeria's crude oil production averaged 1.92 million barrels per day (mb/d) in April 2018, according to the Organization of the Petroleum Exporting Countries (OPEC).
• The country's crude oil exports averaged 1.83 mb/d in April 2018, according to the OPEC Monthly Oil Market Report.
• The average price of Nigeria's Bonny Light crude oil was $68.44 per barrel in April 2018, according to the Nigerian National Petroleum Corporation (NNPC).
• The price of Brent crude oil, a global benchmark, averaged $71.43 per barrel in April 2018, according to the International Energy Agency (IEA).

Economic Impact

• Nigeria's economy grew by 0.55% in the first quarter of 2018, driven largely by the non-oil sector, according to the National Bureau of Statistics (NBS).
• The country's oil sector contracted by 1.45% in the first quarter of 2018, due to lower crude oil production and exports, according to the NBS.
• The Nigerian government's revenue from crude oil sales was N1.34 trillion (approximately $3.7 billion) in April 2018, according to the NNPC.

Challenges and Outlook

• Nigeria's crude oil production has been affected by pipeline vandalism, theft, and technical issues, which have resulted in lower production levels.
• The country's oil sector is also facing challenges from the decline in global oil demand and the rise of alternative energy sources.
• The Nigerian government has been working to increase oil production and reduce dependence on imported refined petroleum products.

Other News

• The Nigerian government announced plans to increase the country's crude oil production capacity to 3 million barrels per day by 2025, according to the Minister of State for Petroleum Resources, Ibe Kachikwu.
• The country's oil industry is also expected to benefit from the development of new oil fields, including the Egina field, which is expected to come online in 2018.

I hope this information is helpful!