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Nigeria's NNPC Settle Dispute Impacting 275kbd of Oil Production

OIL

Nigeria’s NNPC said Sunday it has settled an industrial dispute between the country's two main oil unions and TotalEnergies, restoring oil production of 275,000 bpd in the country.

  • "The unions have agreed to suspend ongoing industrial action leading to the immediate restoration of 275,000 barrels of oil per day production," NNPC said.
  • NNPC did not disclose the nature of the dispute or the workers' demands, which had not been previously announced.
  • Nigeria has struggled to achieve its OPEC production target because of theft and a lack of investment as well as industrial disputes.
  • Nigeria's oil production stood at 1.49 mn bpd in October according to official figures, well below its OPEC quota of 1.74mn bpd.
Energy BulletsCommodities
Energy BulletsCommodities

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