• Contact Us
  • About Us
Wednesday, February 8, 2023
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
Home Energy

Nigeria’s NNPC says oil output up to 2.1 mln bpd

metro by metro
February 28, 2017
in Energy
0
NNPC
0
SHARES
0
VIEWS

Nigeria’s oil production has risen to 2.1 million barrels a day, the managing director of state oil firm NNPC said on Tuesday, without giving an explanation for the increase, reports Reuters.

Reuters further reported that Maikanti Baru managing director of NNPC telling an oil conference in Abuja, that, “We are hoping that by the end of 2017 we should ramp up production to above 2.2 million barrels (per day),”.
But the they are worried about conflicting figures from Nigerian government officials about ther real production output. “OPEC member Nigeria has given differing figures for its oil output in recent weeks,” Reuters further reports.
Finance Minister Kemi Adeosun said on Thursday production was 2.2 million bpd, without giving an explanation.
Similarly, Vice President Yemi Osinbajo had put output at between 1.7 million bpd and 1.8 million bpd last month.
Markets have been surprised by the reported rise because a major export pipeline carrying nearly 250,000 bpd, Forcados in the restive Niger Delta, has only been open for three weeks of the past year due to militant attacks.
There has been no sign of the pipeline resuming operation.
According to a Reuters survey Nigeria’s output was around 1.57 million bpd in January.
There have been no recent militant attacks on pipelines in the Delta since Osinbajo has visited the southern region to calm tensions and broker a peace agreement.
The government has been holding talks with militants to end attacks on crude pipelines, which reduced Nigeria’s output by 700,000 barrels a day for several months last year.
President Muhammadu Buhari met Niger Delta leaders and representatives for the militants in November to discuss their demands. They say they want a greater share of Nigeria’s oil wealth to go to the impoverished region.
Baru also said Nigeria wanted to boost oil output by 2020 to 3 million bpd and crude reserves to 40 million barrels in the same time frame, up from 37 million barrels, Reuters concludes.

Read Also

Transcorp Increases Power Generation To National Grid, Commissions Rehabilitated GT Unit 20

Bill & Melinda Gates Foundation Reaffirms Commitment to African Countries to Help Accelerate Progress in Health, Agriculture, Gender Equality and Other Critical Areas

NMDPRA Urges Nigerians To Avoid Panic Buying Of Petrol, Says There’s Enough In Stock 

Previous Post

For the second year running, no African leader ‘deserves’ Mo Ibrahim award

Next Post

FG Reforms: NAFDAC to issue approvals within 90 days, SON, 60 days

Related Posts

Transcorp Increases Power Generation To National Grid, Commissions Rehabilitated GT Unit 20
Energy

Transcorp Increases Power Generation To National Grid, Commissions Rehabilitated GT Unit 20

January 31, 2023
Agriculture

Bill & Melinda Gates Foundation Reaffirms Commitment to African Countries to Help Accelerate Progress in Health, Agriculture, Gender Equality and Other Critical Areas

November 17, 2022
Energy

NMDPRA Urges Nigerians To Avoid Panic Buying Of Petrol, Says There’s Enough In Stock 

October 25, 2022
Commuters Stranded As Fuel Queues Resurface In Lagos
Energy

Commuters Stranded As Fuel Queues Resurface In Lagos

October 25, 2022
Next Post

FG Reforms: NAFDAC to issue approvals within 90 days, SON, 60 days

Citing Losses, Petrol Marketers Suspend Sale Of Fuel At All Filling Stations

IPMAN Makes U-Turn

February 7, 2023
Buhari meets Emefiele, Nigerian Governors Over Naira Scarcity As Protest Against Hardship Spreads 

Buhari meets Emefiele, Nigerian Governors Over Naira Scarcity As Protest Against Hardship Spreads 

February 7, 2023
Equities Market Upbeat Performance Persists… ASI Gains 0.9% W/W

NGX Appoints Advisory Panel On Digital Technology Products

February 7, 2023
ADVERTISEMENT
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version