Nigeria Now Producing 2.2 Million Barrels Of Oil Per Day, Says NNPC

Nigeria now produces 2.2 million barrels of oil per day, Nigerian National Petroleum Corporation (NNPC) announced on Wednesday.

Due to attacks on pipeline facilities in 2016, Nigeria’s crude oil production dropped. As a result of this, the country was exempted from the oil production cut agreed by members and non-members of the Organisation of Petroleum Exporting Countries (OPEC).

Maikanti Baru, Group Managing Director, disclosed this during the sixth sustainability in the extractive industries conference, organised by the CSR-in-Action in Abuja.
According to Baru, Nigeria being among the 20 top nations in terms of hydrocarbon reserves produces eight billion standard cubic feet of gas per day and hopes to sustain the current oil and gas production.

Also speaking at the same event, Ibe Kachikwu, minister of state for petroleum resources, said the country needs a five-year plan to replace decayed infrastructure in the oil sector.

“So, we have a real major challenge in the oil sector for the next five years; so we need to create a five-year marshal plan to replace decayed infrastructure in the sector,” he said.

“And nowhere is more apparent than like in the refinery sector where we are one of the major OPEC producers and we are still importing bulk of our petroleum products.

“This is because our refinery infrastructure has not been maintained at the same level with other countries such as Ghana and Côte d’Ivoire where 90 per cent of their refineries capacity are working.”