Nigeria is the largest oil producer in Africa and was the world's leading exporter of LNG in 2012.
Nigeria's oil export revenues for 2012 and 2013 were put at $94 billion USD and $84 billion USD respectively. Nigeria earned $74 billion USD from Oil export in 2014.
For 2014 EIA estimated that, excluding Iran, OPEC members earned about $730 billion USD in net oil export revenues. This represents an 11% decline from $824 billion earned in 2013, largely because of the decline in average annual crude oil prices & to a lesser extent from the decrease in the amount of OPEC net oil exports.
Saudi Arabia earned the largest share of these earnings, $249 bn in 2014, down from $282 bn in 2013, representing approximately one third of total OPEC revenues.
Nigeria is the fouth highest earner in the 12 member oil cartel after Iraq (87bn down from 88bn in 2013) and kuwait (81bn down from 91 bn in 2013)
The Appel African Oil Investment Conference will provide a platform for the Nigerian Oil & Gas Industry to discuss and debate the most pressing issues facing the industry to a global audience.