Free Trial

Nigeria Struggling to Maintain Higher Output

OIL

Nigeria remains committed to reversing declining crude production and will replace partners that fail to fulfil their joint venture commitments on output, NNPC group chief executive, Mele Kyari said on Tuesday.

  • He said oil production had reached 2mn bpd in recent months but the rate had not been maintained.
  • Oil output in Africa's top exporter has fallen in recent years, hit by large-scale theft and sabotage as well as oil majors leaving..
72 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Nigeria remains committed to reversing declining crude production and will replace partners that fail to fulfil their joint venture commitments on output, NNPC group chief executive, Mele Kyari said on Tuesday.

  • He said oil production had reached 2mn bpd in recent months but the rate had not been maintained.
  • Oil output in Africa's top exporter has fallen in recent years, hit by large-scale theft and sabotage as well as oil majors leaving..