Nigeria
has been estimated to have realised about $40 billion from crude oil exports in
the first half of this year, according to the Organisation of Petroleum
Exporting Countries (OPEC).
The
12-nation member organisation, in its revenue fact sheet, however stated that
the Africa’s oil giant had net earnings of about $84 billion in 2013.
This
revenue has positioned Nigeria as the fourth highest earner among OPEC members,
after Saudi Arabia ($274 billion), Kuwait ($45 billion), and Iraq ($45
billion), during the same period.
Libya
earned the least revenue with ($4 billion) after Equador ($5 billion).
The United
States Energy Information Administration (EIA) also estimated that excluding
Iran, members of the OPEC earned about $826 billion in net oil export revenues
in 2013, a seven per cent decrease from 2012 earnings, but the second largest
earnings totals during
