Nigeria: Oil Production Dips to 1.3mbd Over Vandalism, Says NNPC

15 Sep 2017   Nigeria

An average of 700,000bpd of crude oil was deferred in 2016 due to pipeline sabotage, this brought Nigeria’s production down to as low as 1.3 million barrels per day from 2.2 million barrels targeted for the period. At an average price of $52 per barrel, the country differed about $13.286 billion (N4.05 trillion). The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, stated this in a keynote address at the maiden edition of the Nigerian International Pipeline Technology and Security Conference (NIPITECS 2017) in Abuja yesterday. He said Year-To-Date 2017; NNPC had recorded 27 breaching incidents on the Trans Niger Pipeline (TNP), adding that for the Trans Forcados Pipeline (TFP) with a capacity of 300,000bpd, 17 breaches were recorded in 2016. NNPC also suffered at least 15 breaching incidents on the TFP, while charging members of the Pipeline Professionals’ Association of Nigeria (PLAN) to […]

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