NNPC confirms 1.6m bpd oil production

Nigeria is producing 1.6 million to 1.7 million barrels per day (bpd) of crude oil, the Chief Operating Officer of the Nigerian National Petroleum Corporation (NNPC), Roland Ewubare, said yesterday, adding that the country would continue to comply with the Organisation of Petroleum Exporting Countries (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,” the NNPC official said on the margins of an oil conference in the United Arab Emirates (UAE).

Nigeria’s output of crude and condensate is at two million bpd, he added.

The cartel had granted the most populous black nation a higher output target under a deal to limit supplies following efforts by Africa’s largest exporter to tweak the agreement to accommodate its expanding oil industry.