Nigeria seems to be having a shortfall against its projected 2.3 million barrels per day production for 2018. With crude oil production and condensation of 2.026 mbpd as recorded in April, it leaves Nigeria with a shortfall of 278,000bpd. This disclosure was made by the ministry in the oil and gas report released recently.
Although it showed a slight increase compared to the 2.022 mbpd which was recorded in March.
The country’s gas production stands at 7.98 billion standard Cubit feet and has imported 51.56 million litres of automotive gas oil, 1.58 million litres of dual purpose kerosene, 1.46 million litres of aviation turbine kerosene and low pour fuel oil at 1.02 million litres.
The ministry’s aim is to reduce the cost of producing a barrel of crude oil from $20 to $15.
Industry experts say the signing of the Petroleum Industry Governance Bill will increase employment and a stable operational environment in the Niger Delta.
Photo Credit: The Guardian