The Rise And Fall Of West African Crude

West African crude supply has faced recent pressure due to aging oil fields in both Nigeria and Angola as well as pipeline constraints in the former; however, pressure is likely to be relieved in the second half of 2018 and moving into 2019. According to JBC Energy, Total’s Kaombo project came online with an initial production capacity of 115,000 b/d, while a second FPSO is projected for, bringing levels to 230,000 b/d. Unfortunately, this will only provide a short-term boost to Angolan production through 2019 as chronic underinvestment in prior years will come to fruition in the form of declining crude output. Similar short-term support can be expected for Nigeria with the Egina project’s FPSO on track to begin pumping 100,000 b/d in Q4 2018 before…

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