NNPC: Oil Production to Grow above 2.2mbd Budget Benchmark in Q2 2017

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By Chineme Okafor in Abuja

The Nigerian National Petroleum Corporation (NNPC) on Tuesday disclosed that the current volume of crude oil produced from Nigeria’s oil fields has risen to 2.1 million barrels a day (mbd) as a result of the federal government’s sustained peaceful overtures to militants in the Niger Delta.

The corporation also stated that with the current peaceful atmosphere in the Niger Delta, it was expecting the country’s oil production to further grow above 2.2mbd which the government has set as benchmark in its proposed 2017 budget.

The Group Managing Director of NNPC, Dr. Maikanti Baru, stated this while speaking on NNPC’s commercial strategies and priorities at the ongoing 2017 edition of the Nigeria Oil and Gas conference and exhibition in Abuja.

Baru’s disclosure of the country’s oil production level came at the same time the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, described Nigeria’s continued importation of petroleum products as shameful and fraudulent.

More to come…