Production troubles force oil firms to defer $1.6bn crude output in 1yr

Due to above-the-ground challenges, oil companies in Nigeria deferred the production of over $1.6 billion worth of crude oil between January 2020 and January 2021, in an economy with a yawning need for cash. Shut-ins at several crude oil terminals in Nigeria due to force majeures, leaks, and other technical challenges mean that crude oil…