Nigeria Pumping 1.8-1.85 mln bpd of Oil: Minister
Abuja, Nigeria | December 07, 2009 by
The production figure of Nigeria is now above a target set by the OPEC
Nigeria is currently producing between 1.8 million and 1.85 million barrels per day (bpd) of crude oil plus 600,000 bpd of condensate, the Nigerian minister of state of petroleum said on Sunday.
“We haven’t produced 2 million per day for a very long time,” said the minister, Odein Ajumogobia. “We are now producing 1.8-1.85 million barrels of crude and another 600,000 barrels of condensate,” he told reporters in Abuja, the OPEC’s member’s capital.
The production figure is above a target set by the Organization of the Petroleum Exporting Countries. OPEC has given Nigeria an implied production quota of 1.67 million bpd.
Ajumogobia said an amnesty programme earlier this year, under which thousands of militant fighters in the Niger Delta agreed to lay down weapons in return for a presidential pardon, had allowed repairs to be done to damaged infrastructure.
“Some of those pipelines that (could not previously be reached) we are now accessing, we are now repairing, production is slowly rising,” he said.
Nigeria’s crude oil exports are expected to hit a six-month high in January, according to preliminary loading programmes, as the respite from attacks on oil facilities brought by the amnesty allows oil companies to ramp up production.
Crude oil output is set to average 2.01 million bpd in January, up from a revised 2.00 million bpd in December and the highest volume since July, trade sources said last week.
Nigeria has the capacity to produce more than 3 million bpd of crude oil but militant attacks on oil facilities have reduced production by more than 20 percent, or around 700,000 bpd.
News Source: REUTERS
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