Nigeria’s crude oil production hits 2mbpd

Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr Maikati Baru, on tuesday disclosed that the volume of oil production in the country has risen to two million barrels per day.

Baru, who gave the indication, after he briefed President Muhammadu Buhari on the activities of the NNPC and its subsidiaries at the Presidential Villa, Abuja.

The GMD, who hinted that the volume, which increased from 1.2 million bpd to 2 million, attributed the development to the relative peace and stability in the Niger Delta area, resulting in oil production increase.

He said he also briefed President Buhari on fuel supply across the country, crude oil and gas productions and the ability of the corporation to supply gas to the power sector.

“I briefed the President on the state of the NNPC and its subsidiaries and also nationally to get him briefed on the situation of fuel supply, crude oil productions, gas production and by extension ability to supply gas to the power sector.

“We had an extensive briefing as you could see. I passed here over two hours. I spent quite some time with him to discuss these national issues.

“He was happy with the state of the corporation and told us to continue with the efforts that we are doing and if we need any executive attention we should not hesitate to come back to him,” he said.

He dismissed speculations that the NNPC plans to review the prices of petroleum products, saying the corporation has no mandate to do so.

According to him, NNPC sells products according to the prices officially stipulated by the Petroleum Products Pricing Regulatory Agency, PPPRA.