Nigeria fully complied in December with limits to oil output set by OPEC and other global producers, the head of the country’s energy company said.
“We’ve met all of our commitments as of today,” Mele Kyari, group managing director of Nigerian National Petroleum Corp., or NNPC as the state energy company is known, said in a Bloomberg Television interview in Abu Dhabi. “Our promise was that by the end of December we’ll be compliant in the cuts that we promised and we have done that.”
Africa’s biggest oil producer had been promising to adhere to its obligations under a global agreement to limit oil output to help balance global markets. Nigeria’s production level had been slightly higher than the baseline for its cuts until last month.