Oil pro­duc­tion now 1.9m bar­rels daily – Kachikwu

Daily Trust - - FRONT PAGE - By Si­mon Echewo­fun Sun­day with agency re­port

The coun­try’s crude oil pro­duc­tion stands at about 1.9 mil­lion bar­rels per day (bpd), the Min­is­ter of Petroleum Re­sources and im­me­di­ate past group man­ag­ing di­rec­tor of the Nige­rian Na­tional Petroleum Cor­po­ra­tion (NNPC), Mr Em­manuel Ibe Kachikwu, said Fri­day.

Kachikwu made the com­ments at a cer­e­mony in Abuja dur­ing his hand­ing over to the new Group Man­ag­ing Di­rec­tor, Dr. Maikanti Ka­calla Baru.

The oil pro­duc­tion fell from 2.2m bpd early in the year due to a se­ries of at­tacks on oil fa­cil­i­ties in the Niger Delta.

Oil is the main­stay of the Nige­ria’s econ­omy.

In a mon­i­tored Chan­nels TV re­port, Kachikwu said that his ad­min­is­tra­tion placed em­pha­sis in the ar­eas of main­tain­ing the dereg­u­la­tion pol­icy, en­sur­ing petroleum prod­uct avail­abil­ity and prompt au­dit of NNPC’s fi­nan­cial re­port.

The min­is­ter ad­vised the new NNPC helms­man to re­main apo­lit­i­cal and seek ways to close the de­vel­op­men­tal gap in the petroleum sec­tor.

He listed some of his achieve­ments in the past 11 months as the group man­ag­ing di­rec­tor of the NNPC to in­clude the N270m profit made by the cor­po­ra­tion.

Kachikwu dis­closed that re­pair of the For­ca­dos crude oil pipe­line to the ex­port ter­mi­nal would be com­pleted by month end.

The pipe­line op­er­ated by Shell Petroleum De­vel­op­ment Com­pany (SPDC) has been un­der force ma­jeure since Fe­bru­ary 21, a week af­ter a pipe­line leak forced a halt to load­ing to the ex­port plat­form.

Baru, in his speech, high­lighted his 11-point agenda to in­clude a pri­or­ity to im­prove rev­enue from the oil and gas sec­tor.


Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.