Bussiness

Nigerian govt vows to sustain oil production above OPEC quota


In July, Nigeria’s average daily crude production rose to 1,507,000 barrels per day, according to a report by OPEC; this is a 7,000-barrel-per-day increase above the organization’s quota for the country.

He said the recent increase in oil production by about 300,000 bpd confirmed the government’s efforts to achieve the ambitious 2 mbpd oil output.

“With a clear target of increasing production from 1.46 million barrels per day to 2.5 million bpd by 2026, the initiative has already demonstrated strong momentum with current reconciled daily production averaging 1.7–1.83 mbps,” he stated.

Comments

Spotlight

Charity and Activism

Fact.O

Writing

Travels and Luxury

School of thought