NIGERIA'S DAILY CRUDE oil production recorded an upward swing of around 2.09 mmbbl in 2018, translating to a nine per cent increment, compared with the 2017 average daily production of 1.86 mmbbl. Maikanti Baru, group managing director of Nigerian National Petroleum Corporation (NNPC), said the...
There are a good number of oil producing states in Nigeria, that combine to make the country one of the major countries when it comes to crude oil above
During the quarter under review, the NBS statistics showed that the production of oil, the mainstay of Nigeria's economy, was lower than in several previous quarters. The West African nation in the first quarter of 2022 recorded an average daily oil production of 1.49 million barrels per day ...
Oil marketers call for privatisation of Nigerian refineries, investment in CNG Oil marketers have called on the Federal Government to privatise state-owned refineries, including the 125,000 barrels per day Warri and read more Oil marketers call for privatisation of Nigerian refineries, investment in ...
She said actual daily crude oil production and exports had been below budget projections since 2013 in spite of installed capacity of up to 2.5 MBPD for a number of reasons. The minister added that in 2018, the actual production was 1.84 MBPD and for the first half of 2019 it was 1.86 ...
Nigeria is the 12th largest producer of crude oil in the world. Daily oil production from the Niger Delta is 2.1 million bbl, and recoverable reserves are estimated to be about 22.5 billion bbl. Historically, structural play types have dominated, although large stratigraphic traps have also been...
Ironically, the conflict during democratic dispensation had great economic consequences on the country when daily oil production dropped from 2.5 million to 700,000 barrels per day. This coupled with wanton loss of lives and properties informed the need to achieve immediate cessation of hostility on ...
Average daily oil production in Q3 2019 stood at 2.04 million barrels per day (mbpd). The NBS said this oil output figure is the highest recorded in more than three years. The statistical agency reported that the non-oil sector grew by 1.85 per cent in real terms in Q3 2019, compared ...
Nigeria's Oil companies are battling against rising theft costing an estimated 150,000 barrels of crude a day, a top oil official said Tuesday in Abuja, according to an AFP report. The loss amounts to roughly seven percent of Nigeria's total output.WO Wire...
“The nation’s oil and condensate reserves as at January 2018 stood at 36.971 billion barrels with a depletion rate of 1.93 per cent and a life index of 51.79 years,” said DPR in the report. It added: “Average daily oil and condensate production stands at 1.973.995bopd as at end of...