FOX Facts: Nigeria

FOX Facts: Nigeria Oil

The Nigerian economy is heavily dependent on the oil sector, which accounts for 95 percent of government revenues

Nigeria is the largest oil producer in Africa

Nigeria is tenth largest producer of crude oil in the world

Nigeria had 35.9 billion barrels of proven oil reserves as of January 2006

The Nigerian government hopes to increase oil production to 3 million bb/d in 2006

The Nigerian government plans to expand its proven reserves to 40 billion barrels by 2010

The majority of reserves are found along the country's Niger River Delta, with the majority of oil located in approximately 250 small fields

In 2005, total Nigerian oil production, including lease condensates, natural gas liquids and refinery gain, averaged 2.6 million bbl/d

In recent months, Nigeria has experienced increased pipeline vandalism

Source: U.S. Department of Energy