Nigerian Oil Production Averages 1.84 Million Barrels Per Day; Refinery Transparency…
What happened
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, addressed criticism regarding the status of Nigeria's refineries. Lokpobiri stated that the Nigerian National Petroleum Company Limited (NNPC Ltd.) needed to explain the situation to Nigerians, emphasizing the need for transparency. Regarding oil production, Lokpobiri noted that figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed output averaging 1.84 million barrels per day, including condensates. The government aims to increase production beyond 2 million barrels per day, though aging infrastructure is cited as a major obstacle.
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Why it matters
The discussion centers on the operational status of Nigeria's oil sector, including the capacity and performance of its refineries. The government's stated production targets and the challenges posed by aging infrastructure are key factors in the country's energy market.
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Who's involved
- NigeriaSovereign state whose oil production and refinery issues are under discussion
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The entities involved
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ExxonMobil
American multinational oil and gas corporation
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Nigeria
sovereign state in West Africa
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