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Commodities 2024: West African oil producers hope for brighter 2024 after year to forget

December 19, 2023 Comments Off

Sub-Saharan Africa’s biggest oil producer began 2023 with lofty aims. In a January speech, Mele Kyari, head of state-owned Nigerian National Petroleum Corp, said the country would boost crude production to 2.2 million b/d by year-end, rousing its fragile economy. Domestic refineries, shuttered for years, would reopen at 450,000 b/d capacity. Nigeria would finally exploit its considerable gas resources. And…