| Population (million inhabitants) | 208.28 |
|---|---|
| Current account balance (million $) | -17,016 |
| Proven crude oil reserves (million barrels) | 36,890 |
| Proven natural gas reserves (billion cu. m.) | 5,761 |
| Crude oil production (1,000 b/d) | 1,737.4 |
How much crude oil does Nigeria produce?
Summary Table
| Barrels per Day | Global Rank | |
|---|---|---|
| Oil Production | 1,938,543 | 15th in the world |
| Oil Consumption | 428,000 | 37th in the world |
| Daily Surplus | + 1,510,543 | |
| Oil Imports |
What are the top 20 oil producing countries?
Country Comparison > Oil – production > TOP 20
| Rank | Country | Oil – production (bbl/day) |
|---|---|---|
| 1 | United States | 10,962,000 |
| 2 | Russia | 10,759,000 |
| 3 | Saudi Arabia | 10,425,000 |
| 4 | Iraq | 4,613,000 |
How much is a bbl of oil?
In the oil industry, an oil barrel is defined as 42 US gallons, which is about 159 litres, or 35 imperial gallons.
Does Nigeria have more oil than gas?
Natural gas reserves account for 5.2 trillion cubic metres, making it the world’s seventh biggest resource. … Nigeria’s gas reserves are more than three times greater than its oil reserves, and the government is committed to increasing gas production for domestic supply as well as for export.
Who gave Nigeria name?
The name Nigeria was suggested in the late 19th Century by British journalist Flora Shaw, who would later marry the British colonial administrator Lord Frederick Lugard.
Who does Nigeria export oil to?
The country has a 4.16% share of an annual crude petroleum global export market worth $1.08 trillion. The most popular export destinations for Nigerian crude petroleum were India ($8.52 billion), the United States ($5.11 billion), Spain ($5 billion), South Africa ($3.82 billion), and the United Kingdom ($3.03 billion).