Tag: Oil Production
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Nigeria’s oil production drops to 1.4m bpd
The Minister of State for Petroleum Resources, Timipre Sylva, on Monday urged Nigerians to show understanding on the recent increase in the pump price of petrol from N148 to N151.56. He said the nation’s crude oil production has drop from 2m barrels per day (bpd) to 1.412m bpd. He said before COVID-19, oil prices were…
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Nigeria to Raise Oil Production to 2.5mbpd from April 1
Following the inability of Organisation of the Petroleum Exporting Countries (OPEC) to extend its present oil output cut, which expires on March 31, 2020, Nigeria will from April 1, 2020 increase its production by 500,000 barrels per day from its current 1.7 million barrels per day. Nigeria is hoping to increase the daily production of…
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Attack: Full oil production resumes month end – Saudi Arabia
Saudi Arabia’s energy minister Abdulaziz bin Salman said that half of the crude oil production that was disrupted due to the weekend attack on Aramco’s oil facilities had been restored. Salman made this known at a news conference on Tuesday. “Over the past two days, we were able to contain the damage and restore more…
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Nigeria to cut oil production by 100% compliance with OPEC deal in October – Sylva
The Minister of State for Petroleum, Timipre Sylva on Thursday said that Nigeria has agreed to cut oil production by complying with OPEC deal 50% this month and 100 percent in October this year. A statement of the Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu disclosed that. It quoted the minister as…
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Nigeria daily oil production hits 2.3mbpd – Baru
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru says the country’s daily oil production is currently 2.32million barrel pre day. Baru disclosed this on Tuesday when a delegation of the Nigerian Union of Journalists (NUJ) led by its President Mr Chris Isiguzo visited his office in Abuja. “Since we came in…