Crude oil output from independent and sole risks producers have increased by over 100 per cent from 2.388 million barrels recorded in May 2017 to 7.487 million barrels in June, current data from Nigerian National Petroleum Corporation (NNPC) has shown. According to the NNPC’s data titled: “Crude Oil Well-head Production by Company,” contribution from indigenous oil producers has been on the increase since June 2016. For example, independent producers’ crude oil production increased from 2.105 million barrels in June 2016 to 2.57 million barrels in September; 2.693 million barrels in October; 2.876 million barrels November to 7.486 million barrels in June 2017 respectively. Individual companies have also increased their production output by over 100 per cent. Nigerian Petroleum Development Company (NPDC) increased its oil output from 1.190 million barrels in June 2016 to 4.478 million barrels in June 2017. Seplat Petroleum Development Company also increased oil production from 195,749 […]