Nigeria’s crude oil output hits 1.014m bpd 4-month high

Nigeria's crude oil output hits 1.014m bpd 4-month high

 

Nigeria has exceeded the 1 million barrels per day oil production mark in the month of October; this is according to the data obtained from Nigerian Upstream Petroleum Regulatory.

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Africa’s most populous nation drilled 1.014 million barrels per day for the month under review, exceeding production for August which was 972,394 bpd and September’s pegged at 937,766 bpd.

The country produced 31.449 million barrels of crude oil in October as opposed to 28.132 million in September and 30.144 million barrels in August.

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The month also saw the production of 6.692 million barrels volume of condensate, raising total production to 38.1 million barrels for last month.

The Nigerian Ports Authority says that modalities have been put in place to increase Nigeria’s exports of non-oil products.

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An assurance was given by the port regulatory agency’s managing director on the sidelines of export terminals’ inauguration in Lagos.

Management of the port authority says it will create a seamless system with export terminal operators to maximize exports from the terminals.

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The federal government has variously blamed its failure to drill more oil on huge oil theft, destruction of major assets, outdated infrastructure, and dwindling upstream investment.

Mallam Mele Kyari, Group Chief Executive Officer of the NNPC, recently advocated for the establishment of a special court to try those proven to be complicit in the damage of Nigeria’s oil infrastructure.

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According to the national oil corporation, the GCEO requested the High Court’s assistance in establishing a special court/tribunal to enable the swift prosecution of crude oil thieves and pipeline vandals.

Kyari, who described the activities as a severe threat to Nigeria’s oil production, revenue creation, and, by extension, energy security, stated that a special court should be established to carry out such orders.

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