The Nigerian Petroleum Development Company (NPDC), one of the upstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC), is to increase its daily crude oil production to 500,000 barrels per day before 2022. The NPDC currently produces about 200,000 barrels per day and going by its work programme, it will increase to 300,000 barrels per […]
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Crude oil production in Nigeria rose by 88,700 barrels per day last month, the second biggest increase among its peers in the Organisation of Petroleum Exporting Countries. But the fresh threat by Niger Delta militants to attack some oil and gas facilities in the region may pose a risk to the nation’s oil production. OPEC, […]
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Nigeria’s oil production will upsurge by 200,000 barrels per day by the fourth quarter of 2018, the Deputy Managing Director of Total, a principal partner of the Egina Project, Mr. Ahmadu Musa-Kida, has said. Musa-Kida disclosed this at the celebration of the Egina manifold sail away in Port Harcourt on Tuesday, according to a statement […]
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NNPC Group Managing Dr. Maikanti Baru, has said an average of 700,000 barrels per day (bpd) of crude oil was deferred last year due to pipeline sabotage. He lamented that this brought production down to as low as 1.3 million (bpd) from 2.2 million barrels targeted for the period. Baru, who stated this in a […]
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The Nigeria’s oil production, excluding condensates, was slightly below 1.8 million barrels per day in July, the country’s oil minister said on Thursday. Emmanuel Ibe Kachikwu, speaking on the sidelines of an event in the capital, Abuja, said there had been issues with aging pipelines. “We continue to have challenges, some of our pipelines are […]
Read More The Nigeria economy is faced with a drastic decrease in crude oil production since the beginning of 2017 which has led to a cumulative loss of about ₦131.8bn, an analysis of various reports from the Nigerian National Petroleum Corporation has shown. After increasing to 1.84 million barrels per day in January this year, from 1.58mb/d […]
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Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has vowed to resign if the country fails to attain self-sufficiency in the refining of petroleum products by 2019. Kachikwu, who spoke as a guest on BBC Hard Talk in London on Monday, also stated that he recently signed an agreement with the international oil giant, […]
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Dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria and a subsidiary of United States’ ExxonMobil Corporation has taken a turn for the worse on Monday as the union extended its industrial action to other international oil companies operating in the country. This followed the rejection of the directive by the Minister […]
Read More Crude oil production in the nation rose by 274,000 barrels per day last month, the biggest increase among its peers in the Organisation of Petroleum Exporting Countries. But the increase was not enough to help the country regain the status of Africa’s top oil producer from Angola, which it lost in recent months. OPEC, in […]
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The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, on Tuesday stated that oil production in the country had risen from 1.2 million barrels per day to two million barrels per day. Baru said this in an interview with State House correspondents after meeting behind closed doors with President Muhammadu Buhari […]
Read More The Nigeria crude oil production fell from a total two million barrels per day to as low as 1.27 million bpd amid the shutdown of two major export grades. The country produced 1.269 million bpd last month, according to direct communication with the Organisation of Petroleum Exporting Countries. The 13-member oil cartel, in its newly released monthly […]
Read More Nigeria, which again lost its Africa’s top oil producer status to Angola in January, has recorded further decline in its crude oil production, a new report from the Organisation of Petroleum Exporting Countries has indicated. OPEC, in its Monthly Oil Market Report for March 2017, put crude oil production from Nigeria at 1.526 million barrels […]
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