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
-
Mobile tech to add $290bn to Africa’s economy by 2030, GSMA says
1 hour -
South Africa’s Ramaphosa warns against scapegoating migrants for economic woes
1 hour -
Oil prices fall 5% to 3-month low on hopes Strait of Hormuz will open
1 hour -
Prince George to attend Eton College from September
2 hours -
Cadbury chocolate-owner Mondelez defends staying in Russia
2 hours -
‘We fear for our lives’ – deadline for migrants to leave South Africa looms
2 hours -
Hungary’s MPs block return of Orbán, limiting rule of PM to eight years
2 hours -
Hundreds of cats stolen for food in Vietnam rescued by police, welfare group says
2 hours -
Brazil convicts Jair Bolsonaro’s son of pursuing US help in father’s legal battle
2 hours -
Musk’s SpaceX overtakes Amazon to become world’s fifth most valuable firm
3 hours -
2026 World Cup: What would Ghana lose without Thomas Partey against Panama?
3 hours -
German broadcaster removes TV intro after Elon Musk takes legal action
3 hours -
Haaland scored twice on World Cup debut as Norway beat Iraq
3 hours -
Spurs agree ÂŁ52m Van Hecke deal with Brighton
3 hours -
World Cup: The VAR call that dumbfounded the world’s best referees
3 hours