Nigeria has struck fresh crude oil at the Awodi-07 well, reinforcing its position as Africa’s leading oil producer just as output recovery gains momentum. Drilled by Chevron Nigeria under its joint venture with NNPC Ltd, the shallow offshore discovery confirms hydrocarbons across multiple reservoirs, although commercial volumes remain undisclosed. The find comes amid a rebound in national production to about 1.7–1.8 million barrels per day in 2025, following years of production losses caused by theft and underinvestment. Crucially, the nation’s oil resurgence is now powered by more than just upstream discoveries. The Dangote refinery, with its 650,000-barrel daily capacity, is transforming Nigeria’s energy economics by slashing costly fuel imports. This integrated strategy—pairing new crude supply with domestic refining—uniquely positions Nigeria to capture more value locally, setting it apart from regional competitors who remain reliant on raw exports.
Business Insider Africa
