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Nigeria pumping 1.67m b/d: NNPC

OIL

Nigeria is currently pumping 1.67m b/d of oil and condensates, according to the head of NNPC Sep. 1 via Reuters.

  • "This is substantial - if you look at the situation where we are almost going below a million barrels a year some months ago," Mele Kyari, NNPC's group chief executive said.
  • The West Africa nation has seen output affected by large scale oil theft from pipelines and wells, Reuters said.
  • Nigeria has an allocation from OPEC to produce 1.742m b/d. Its output was 1.081m b/d in July, the second lowest monthly output in 2023 to date.

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