Crude oil production hits 2.7m barrels per day – NNPC

Nigeria produces about 2.7 million barrels of crude oil per day

 

Amidst the harsh scarcity of petrol in various states of the country, local crude oil production has reached an all time high of 2.7 million barrels per day, the Group Managing Director of Nigeria National Petroleum Corporation, NNPC, Andrew Yakubu, said on Thursday.

He said this at the ongoing Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry, LCCI, in Lagos.

Mr. Yakubu, who was represented by the Managing Director of the National Engineering and Technical Company, Isiaku Abdulahi, said the NNPC had been able to maintain crude production above the budgeted production level of 2.48 mbpd.

“Factors that are responsible for these desired outcomes include the sustained amnesty programme of the government and the re-entry into previously abandoned assets by NNPC.

“The ongoing efforts at increasing the nation’s crude oil reserves in the inland sedimentary basins, especially in the Chad Basin are also being sustained,’’ he said.

Mr. Yakubu said in the last couple of years, the NNPC had engaged itself in a process of transformation to become more competitive across the globe and gain a fair share of the market.

The petroleum commission boss said the corporation had continued to sustain petroleum products supply nationwide “notwithstanding the occasional hiccups due to labour action and vandalism of crude oil and product pipelines.”

But with the number of barrels of crude oil being exported per day, Nigeria still faces scarcity of the refined products.

In various parts of the country, there are long queues at filling station with some filling stations selling fuel above the approved pump price.


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