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Nigeria's Oil Output Closes In On 1.5 Million Bpd - Politics - Nairaland

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Nigeria Nears OPEC’s Renegotiated 1.5 Million BPD Quota / NNPCL Confirms Rise Of Oil Production To 1.6 Million BPD / Nigeria’s Oil Output Drops To 972,394 Bpd (2) (3) (4)

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Nigeria's Oil Output Closes In On 1.5 Million Bpd by jersy4: 3:48am On Mar 14
Nigerian oil production, beleaguered by rampant theft and sabotage, hit its highest in more than three years amid a concerted effort to crack down on targeted attacks and organized theft rings.
According to OPEC data, the country’s production hit 1.476 million barrels per day (bpd) in February, after hitting a decades-low in the second half of 2022, when it dropped below 1 million bpd. Since then, the government has pursued a more efficient and aggressive policy for cracking down on theft and pipeline sabotage, hiring private security firms to bolster military efforts to guard facilities. As of this week, Nigeria is pumping more than it has since December 2020. Nigeria has consistently failed to produce to its quota in the OPEC+ agreement.
The combination of pipeline vandalism and oil theft with a lack of investment in capacity has made Nigeria the biggest laggard in crude oil production in the OPEC+ alliance. Oil theft and pipeline vandalism have long plagued Nigeria’s upstream oil and gas industry, driving majors out of the country and often resulting in force majeure at the key crude oil export terminals. Nigeria’s oil production is around 1 million bpd below its capacity.

https://oilprice.com/Latest-Energy-News/World-News/Nigerias-Oil-Output-Closes-in-on-15-Million-Bpd.html

Re: Nigeria's Oil Output Closes In On 1.5 Million Bpd by Lumarstone: 5:28am On Mar 14
1.5 million BPD output multiply by 30 days pay month tanx 12 months in a year= too much money for the country. God?

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