Nigeria’s crude oil daily production recorded an upward swing of about 2.09 million barrels in 2018. This translated to a 9 percent increment, compared with the 2017 average daily production of 1.86 million barrels.
Pitched against the low-level daily crude oil production in 2016 and what it now obtains, Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr Maikanti Baru, said the nation had maintained a line of consistent year-on-year improvement.
For the crude oil increment and other milestones recorded by the NNPC in the outgone 2018, Dr Baru, who made the submission in a comprehensive end of year message to staff of the corporation, touted the new business models his team has emplaced in the national oil company’s old and new business entitles as raison d’être for the giant strides.
A statement by NNPC Group General Manager, Group Public Affairs Division, Ndu Ughamadu, on Tuesday, 1 January 2019, in Abuja, said the Nigerian Petroleum Development Company (NPDC), Nigerian Gas Company (NGC), Petroleum Products Marketing Company (PPMC), Duke Oil, NIDAS and Integrated Data Services Limited (IDSL), were among the re-engineered companies listed by the NNPC GMD.
Ughamadu said Baru singled-out NPDC, the corporation’s Upstream flagship company, as the major contributor to the Industry’s success story in 2018, expressing enthusiasm on the 52 percent daily crude oil production growth by the company vis-à-vis its 2017 performance.
Dr Baru explained that the average production from NPDC’s operated assets, alone, grew from an average of 108,000 of oil per day (bod) in 2017 to 165,000bod in 2018, describing the feat as the strongest production growth within the oil industry in recent times, even as he added that it was worth being celebrated.