Home Business Nigeria’s Average Crude Oil Production Climbs 15% in 2023
Nigeria’s Average Crude Oil Production Climbs 15% in 2023
Nigeria has increased its crude oil output from an average of 60% to 75% of its budget benchmark between the second half of 2022 and the first quarter of 2023, according to data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Despite under-producing by over 277 million barrels in 2022, the country drilled 115 million barrels in the first quarter of 2023, an increase of around 15%. However, Nigeria only produced 70% of its OPEC quota in Q1 2023.
The Nigerian government has taken steps to tackle oil theft and vandalism in the Niger Delta, including hiring local security groups and inaugurating a whistle-blower scheme.
The immediate past Minister of State, Petroleum Resources, Timipre Sylva, had said Nigeria was working towards meeting its OPEC crude oil production quota of 1.8 million bpd by the end of May 2023. Still , Nigeria has been unable to push out 1.4 million barrels per day, excluding condensate.
Sylva also explained that the federal government would continue to improve security along the tracks of the major crude oil pipelines and block every leakage through which crude oil is stolen by oil thieves and pipeline vandals.
The Nigerian government has recently taken a rash of decisions to tackle the embarrassing oil theft situation in the Niger Delta, hiring local security groups as pipelines surveillance contractors.
Among those handed the security contracts was a firm belonging to a former Niger Delta warlord, Mr Government Ekpemupolo, also known as Tompolo and Pipeline Infrastructure Nigeria Limited (PINL).
In addition, the NNPC has announced that it can now monitor Nigeria’s oil infrastructure in real time with its new automated platform and has inaugurated a whistle-blowers scheme which rewards persons who report the activities of suspected oil thieves to the national oil company.
source; thisdaylive.com
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