Nigeria’s Oil Production Hits 1.9million Barrels Daily

Nigeria’s oil production capacity now stands at about 1.9 million barrels per day, the Minister of Petroleum Resources, Mr. Emmanuel Ibe Kachikwu, said on Friday, July 8.

Kachikwu, who is the immediate past group managing director of the Nigerian National Petroleum Corporation, NNPC,made the comments at a ceremony in Abuja during his handing over to the new Group Managing Director, Dr. Maikanti Kacalla Baru.

The oil production fell from 2.2m bpd early in the year due to a series of attacks on oil facilities in the Niger Delta.
Oil is the mainstay of the Nigeria’s economy.

The Minister said that his administration placed emphasis in the areas of maintaining the deregulation policy, ensuring petroleum product availability and prompt audit of NNPC’s financial report.

He listed some of his achievements in the past 11 months as the group managing director of the NNPC to include the N270m profit made by the corporation. Kachikwu disclosed that repair of the Forcados crude oil pipeline to the export terminal would be completed by month end.