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Today at 11:44 AM | Oil

OilPrice: Nigeria's oil production hit by pipeline accident

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OilPrice: Nigeria's oil production hit by pipeline accident

An accident occurred on one of Nigeria's key Trans-Niger oil pipelines on Monday evening, according to OilPrice.

The incident comes at a time when Nigeria has been working to ramp up its oil production. The West African country has struggled for years to meet its OPEC+ quota due to delays in launching new facilities and a rise in fuel theft. OilPrice experts suggest these factors may have contributed to the incident. Nigerian authorities have yet to provide an official comment.

The Trans-Niger pipeline, operated by Shell, has a capacity of approximately 450,000 barrels per day, as reported by Reuters. The accident could disrupt oil transportation volumes along this critical route.

Elena Dorohina MarketCheese

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