Audio By Carbonatix
Nigeria's state oil firm NNPC said on Thursday it had increased oil production to 1.8 million barrels per day (bpd), with the possibility of getting to two million bpd by year-end.
Oil production at Africa's top crude exporter was estimated at 1.3 million bpd in October, according to producer group OPEC's latest report. Nigeria often counts condensate production of around 250,000 bpd as part of its production.
The NNPC said the increase was a result of collaborative efforts with its joint venture operators and its partners on production-sharing contracts, alongside security agencies and the government.
"The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders," NNPC CEO Mele Kyari told a press briefing.
Nigeria has been battling crude theft in its Niger Delta production region, sabotage, and local unrest, which has hampered output growth.
In June, NNPC set up a 'war room' to coordinate efforts of oil partners, the government and private security personnel to stem crude theft. Since then, several vessels used in stealing crude have been destroyed and some illegal refiners arrested.
Kyari said the interventions across every segment of the production chain, supported by rigorous pipeline monitoring from security agencies, had been critical to the recovery.
Latest Stories
-
“Underestimate Dr Adutwum at your own risk” — Adutwum camp fires back at Bryan Achampong video
23 minutes -
The role of curriculum in transmitting societal values: Why NaCCA must be resourced and empowered
31 minutes -
Benin’s opposition loses all parliamentary seats, provisional results show
38 minutes -
New market report reveals 55% of Ghanaian jobs now demand a bachelor’s degree
42 minutes -
Aide to National Timber Monitoring Team boss arrested amid intensified crackdown on illegal logging
48 minutes -
Tension mounts in Akyem Akroso over plans to sell royal cemetery for supermarket project
49 minutes -
Fuel price floor protects consumers, safeguards industry sustainability – COMAC CEO
50 minutes -
Ghana welcomes digital platform GHKonnect.com to connect businesses
54 minutes -
Heads who shortchange students on meals will be sanctioned – Deputy Education Minister warns
54 minutes -
Bryan Acheampong best placed to heal NPP divisions – Pious Hadzide
58 minutes -
New ICU National Chairman pledges fairness, unity and stronger worker protection
1 hour -
NAIMOS halts illegal mining activities along Kumasi-Sunyani highway
1 hour -
KMA boss announces settlement of ₵42m out of Assembly’s ₵142m judgment debt
1 hour -
Mahama’s one year on: Protecting the economic foundations for shared prosperity
1 hour -
ICU-Ghana boss urges unity to revive cocoa sector, calls for presidential summit
2 hours
