Nigeria sees rig count surge by 64% in Feb, highest among OPEC members

Despite the scourge of Coronavirus raving activities in the oil and gas industry, Nigeria’s rig count took a significant jump, rising 64 percent to 23 in February, as against 14 recorded in January, 2020. This is coming at a time the Organisation of Petroleum Exporting Countries, OPEC, recorded 0.7 percent rise in rig count to 588 in February, as against 584 recorded the previous month, according the latest OPEC monthly oil market report.

World rig count recorded a 2.7 percent rise recording 2,332 in the latest count, as against 2,281 recorded the previous month. Among the OPEC members, Nigeria had the most impressive rig count, plus nine, followed by Saudi Arabia, which had three as against two previously. Kuwait has plus two, having recorded 55 in February as against 53 recorded in January.

 

Source: Vanguard

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