If the report reaching the news desk of CEOAFRICA is anything to go by, then Nigeria may be at the brink of losing its status as the number oil producer in Africa to Angola, as rising crude oil thefts, delay over the passage of the petroleum  industry bill (PIB) and other complications, are beginning to negatively affect the country’s production volume, while Angola is rising on daily basis.

 According to Angola’s  oil Minister, Jose Maria Botelho de Vasconcelos, the country, currently second largest oil producer in Africa, will produce 2m barrels per day (bpd) next year, or in 2015, meeting a target it had planned to reach in 2013, After three consecutive years of decline, production increased by 4.5 percent in 2012 to an average of 1.73m bpd.

 In an interview, the minister said, “Based on the data we have, the increase in production to 2m barrels of oil per day may take place between 2014 and 2015.”

 Analysts confirmed that Angola’s output for the Month of May surpassed that of Nigeria, and if proper measures cannot be put in line, it would upstage Nigeria as early as next year. According to OPEC’s July 2013 Monthly Oil Market Report released last week, figures show that in May, Nigeria produced 1,676,000 bpd, compared to Angola’s 1,730,000. April was also close, with Angola producing 1,711,000 bps to Nigeria’s 1,727,000 bpd.

 The Nigerian National Petroleum Corporation (NNPC) had last week said that it lost a total of 11.7 million barrels of crude oil to thieves who vandalised its pipelines between 2009 and 2012, amounting to N437.34 billion.

 Meanwhile, Ademola Oshodi, project manager, Nigerian Natural Resources Charter (NNRC) said the country should focus on how to resolve the simmering issues behind the problem like oil theft, reluctance of foreign investors to partake in the country’s oil market due to legislative direction as manifested in the PIB, and the reduction of US oil exports, due to its increased internal oil supplies, etc.   

 Recently, Shell Petroleum Development Company shut a trunk line of the Trans Niger Pipeline following a leak, barely a week after reopening it. The 24-inch trunk line, which is part of a broader pipeline route that carries 150,000 barrels of oil a day, through the Niger Delta to the Bonny terminal, has been the target of oil thieves in recent months. Nigeria which earn 90 percent of its foreign exchange and about 80 percent of government revenue from oil industry, seek to overhaul the industry through the PIB which is currently in before the legislature.

However, the Senate joint committee has already set aside specific dates for public hearing and meeting of all stakeholders to make input into the new PIB before it is presented to the whole Senate for consideration. The Senate joint committee has set aside July 17 and 18 for a public hearing and meeting of all stakeholders to make input into the new PIB before it is presented to the whole Senate for consideration.