Two heavy oil and gas explorers in Nigeria, Mobil Producing Nigeria Unlimited and Shell Petroleum Development Company of Nigeria Limited, say they recorded huge drops in production from their joint venture assets in the first quarter of this year.
Mobil’s joint venture output dropped from 11 million barrels in January last year to 6.2 million barrels in March this year as shown by data from the Nigerian National Petroleum Corporation.
The oil major, which remains the biggest producer onshore in Nigeria, posted a 36 per cent decline in production in the first three months of this year.
Similarly, the Shell saw its Joint Venture production dropped from 5 million barrels in January last year to about 3 million barrels in March this year.
Chevron also witnessed production decline. Operational problems and production shut-in were reasons for declines.
Related posts:
Royal Dutch Shell starts production on World’s largest floating LNG platform
Nigeria loses N3.4tn as crude production drops
Nigeria’s industrial production value drops by 41% – AfDB
Nigeria’s daily oil production drops to 1.08m bpd
Flying Eagles suffer 8-1 loss to England
Children in Cape town suffer from water-related illness
Fayemi will suffer worst defeat of his career – Fayose
Fuel crisis: Nigerians will suffer more except supply is brought in few days -BKO
