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
-
AGN Chair echoes need for Africa to translate strong climate negotiating positions into powerful outcomes
3 hours -
‘Pay attention to every child’: Survivor-turned-advocate challenges Ghana
4 hours -
Germany pledges stronger security, development ties with Ghana
4 hours -
‘I was sold at age six as a child slave’ – Kofi Annan’s haunting Volta Lake story
4 hours -
GhIE congratulates Ing Professor Kwabena Biritwum Nyarko on FAEO appointment
5 hours -
Methodist Church accounts for all tithes -Presiding Bishop
5 hours -
Mahama assures business leaders of conducive investment environment to drive economic growth
5 hours -
Farmers face rising poverty and insecurity in northern Ghana due to climate pressures
5 hours -
Kantanka Automobile donates motorbikes, TV sets to Interior Ministry
5 hours -
Meta says it will cut 8,000 jobs as AI spending grows
5 hours -
OSP saga: Attorney General’s court position reflects Executive’s stance – John Darko
5 hours -
Ablakwa slams xenophobic attacks in South Africa as ‘betrayal’ of Africans
5 hours -
Mahama backs immigration reforms, pledges support to modernise GIS
5 hours -
MiDA CEO pays courtesy call on Gender Minister to deepen collaboration
6 hours -
Open Kasoa–Winneba middle carriageway in 3–4 weeks – Mahama directs contractor
6 hours