Nigeria’s oil production declines to 972,394 Barrrel Per Day
Nigeria’s oil production has collapsed to an all-time low of below one million barrels per day.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said the output averaged 972,394 barrels per day in August 2022.
Nexus News gathered this was as Brent crude sold for $100.70, yesterday, at the international market.
The latest figure implies the drop is more than 10 per cent, compared to July 2022 production, which was 1.08 million barrels.
In a related development, members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), yesterday, submitted a letter to the Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited.
This comes after a rally to pull the government’s attention towards oil theft and pipeline destruction.
President of PENGASSAN, Festus Osifo, bemoaned large-scale collusion in the Niger Delta, prompting well-meaning Nigerians to close ranks and battle the menace.