Nigeria lost 23.1million barrels of crude oil from August 16 to September 5, due to activities of Niger Delta militants, which led to shut-in of production, shut down of pipelines and terminals, The Nation has learnt.
It was gathered that the country lost 1.1 million barrels daily, about 23.1 million barrels in 21 days.
Minister of State for Petroleum Resources Dr Emmanuel Kachikwu confirmed this at a conference in Lagos, saying the country had to produce an additional 1.1 million barrels of oil per day (bpd) between now and December to recover the loss and meet the targeted yearly production.
Nigeria’s daily crude oil production fluctuates between 1.4 million barrels and 1.6 million bpd, a development, which implies that the country is short of 1.1 million bpd to meet its daily production of 2.7million bpd.
In a related development, the Chief Executive Officer, Frontier Oil Limited, Mr…
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