ABUJA, Nigeria, July 14 – Nigeria’s daily oil production increased by 25,000 barrels per day, rising from 1.251 million barrels per day (mbpd) in May to 1.276 mbpd in July, according to the Organisation of the Petroleum Exporting Countries (OPEC).
OPEC’s Monthly Oil Market Report for June, based on direct communication with the Nigerian government, revealed the rise in production. However, the report also noted a previous decline, with production falling from 1.28 mbpd in April to 1.25 mbpd in May.
Despite the government’s efforts to boost production, Nigeria has not returned to its April level of 1.28 mbpd. According to secondary sources, OPEC reported a slight drop in production from 1.37 mbpd in May to 1.36 mbpd in June.
In contrast, the Group Chief Executive Officer of the Nigeria National Petroleum Company Limited, Mele Kyari, claimed in May that crude production was nearing 1.7 mbpd. During a stakeholders’ engagement in Lagos, Kyari said, “As of today’s data, we’re inching to 1.7 mbpd. We won’t celebrate this. On 17th of April 2020, our production, without doing anything, without drilling new wells, shot to 2.2 mbpd. The difference was COVID-19. The thieves, the vandals, everybody went to sleep.”
OPEC and the Nigerian Upstream Petroleum Regulatory Commission’s figures, however, showed a decline in production. Earlier reports indicated a marginal increase in April, with production rising from 1.23 mbpd in March to 1.28 mbpd. This followed a significant drop from 1.32 mbpd in February to 1.23 mbpd in March.
The continuous drop in production has raised concerns among stakeholders about revenue losses due to the government’s failure to ramp up production. In response, the NNPC declared a state of emergency on oil production to increase crude oil output and grow reserves.
At the Nigeria Oil and Gas Conference and Exhibition Week in Abuja, Kyari stated, “We have decided to stop the debate. We have declared war on the challenges affecting our crude oil production. War means war. We have the right tools. We know what to fight. We know what we have to do at the level of assets. We have engaged our partners. And we will work together to improve the situation.”
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Reporting by Godwin Okafor, The Naija247news in Lagos, Nigeria.
