Nigeria’s oil production in the month of December 2022 grew by 4.2 per cent month-on-month to 1.23 million barrels per day but remained significantly short of the 1.8 million barrels per day allocated to the country by the Organisation of Petroleum Exporting Countries, OPEC.
The Nigerian Upstream Petroleum Regulatory Commission has revealed that crude oil production in Nigeria rose to 1.235 million barrels per day in December 2022, representing the highest output since March when the country produced 1.237mbpd.
Nigeria recorded a shortfall in crude oil production totalling 6.9 million barrels per day (bpd) between January and November, 2022.
Nigeria is one of the world’s largest oil producers, yet, has failed to develop an oil refinery sector.
n ambitious $25 billion project to build a gas pipeline between Nigeria and Morocco took another step forward today, with the signing of agreements with the governments of five littoral states through whose waters the line would be installed.