ENERGY BRIEFS

ENERGY BRIEFS

ELF UNIT TO DEVELOP

NIGERIAN OIL FIELDSElf Nigeria, a subsidiary of the French oil group Elf Aquitaine Inc., will spend $100 million on exploration activities this year and is to begin development of its wells in the states of Rivers and Bendel, the OPEC News Agency reported.

Elf confirmed the existence of more than 100 million barrels of crude oil at fields in Obagi and Ukpomani, Opecna said.

The Obagi field has a production capacity of 95,000 barrels a day, while the Ukpomani field is expected to produce 35,000 b/d.

NIGERIA TO INCREASE

OIL OUTPUT CAPACITY

LONDON - Nigeria plans to raise oil production capacity to 2.5 million barrels a day within the next five years, said Jubril Aminu, petroleum minister, the Financial Times reported Friday.

This is substantially higher than the present operating ceiling of 1.6 million b/d.

Along with higher capacity, exploration would be intensified to increase proven reserves from the present 16 billion barrels.

JAPAN'S CRUDE IMPORTS

FALL FROM YEAR AGO

TOKYO - Japan's crude oil imports in January averaged 4.1 million barrels a day, down 4.9 percent from a year earlier, Japan's Ministry of International Trade and Industry said.

Despite the decrease, Japan's demand for refined products continued strong, the ministry said.

The Organization of Petroleum Exporting Countries in January supplied 77.4 percent of total crude imports. The main supplier, the United Arab Emirates, accounted for 25 percent of the total.