Oil Production Inches Closer To 1.7mbpd – NNPCL

This was revealed by the NNPCL boss, as he addressed stakeholders at an engagement between the Nigerian Association of Petroleum Explorationists and the NNPCL in Lagos on Saturday.
According to him, 1.7 million barrels per day was a boost from 1.28 million barrels reported in April.
According to Kyari, the nation’s crude oil production keeps dropping due to oil theft and vandalism, emphasising the need to fight insecurity in the oil and gas sector to increase production.
Due to pipeline vandalism, Kyari said everyone resorted to barging, with some spending $21 to transport a barrel of oil to the terminals.
As of early last year, OPEC said production was at 1.2mb/d, however, improved to 1.3mb/d by the fourth quarter, and remained so until March 2024 when it dropped to 1.2mb/d. Production is yet to attain 1.7mb/d according to OPEC’s statistics.
Kyari also noted that the AKK pipeline is a key element in the discussion about developing the infrastructure needed to ensure gas supply.
He emphasised that the only remaining task to connect the east and the west is a 2.7 km river crossing.
This, he assured, would be completed by the end of May or June, enabling the flow of gas from the east to the west.