Nigeria oil output 1.6-1.7 mln bpd, in line with OPEC cut – NNPC

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ABU DHABI, Nov 13 – Nigeria is producing 1.6 million-1.7 million barrels per day (bpd) of crude oil, the chief operating officer of the Nigerian National Petroleum Corp said on Wednesday, adding that the country would continue to comply with OPEC output cuts.

“The last quota put us at 1.7 million bpd and we are committed to that threshold … our current production with the cuts is between 1.6 and 1.7 million barrels per day for November,” Roland Ewubare said on the margins of an oil conference in the United Arab Emirates.

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Nigeria’s output of crude and condensate is at 2 million bpd, he said.

The Organization of the Petroleum Exporting Countries had granted Nigeria a higher output target under an OPEC-led deal to limit supply following efforts by Africa’s largest exporter to tweak the agreement to accommodate its expanding oil industry.

Nigeria started participating in the deal this year, having been granted an exemption from previous OPEC cuts due to militant attacks that reduced the country’s output.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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