Oil Production Dips To 1.3mbd Over Vandalism, Says NNPC

Oil Production Dips To 1.3mbd Over Vandalism, Says NNPC

An average of 700,000bpd of crude oil was deferred in 2016 due to pipeline sabotage, this brought Nigeria’s production down to as low as 1.3 million barrels per day from 2.2 million barrels targeted for the period.

At an average price of $52 per barrel, the country differed about $13.286 billion (N4.05 trillion).

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, stated this in a keynote address at the maiden edition of the Nigerian International Pipeline Technology and Security Conference (NIPITECS 2017) in Abuja yesterday.

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