Business Hilights
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Nigeria’s crude oil production on steady rise, hits 2.057mbpd in December

Figures have emerged showing that Nigeria’s crude oil production, including condensate hit 2.057 million barrels per day (bpd) in the month of December 2017, an indication that it grossed more than the 1.93 million bpd including condensate at the end of September last year.

Statistics from the Federal Ministry of Petroleum Resources made this disclosure in its facts and figures for the oil industry released at the weekend.

The Ministry noted that the country trucked out 36.97 million litres in December; 7.61 million litres of Automated Gas Oil; 1.55 million litres of Dual Purpose Kerosene; 1.82 million litres of Aviation Turbine Kerosene; and 0.20 million litres of Low Pour Fuel Oil (LPFO).

Business Hilights recalls that Nigeria’s crude oil production has been fluctuating in the last six months due to pipeline obstructions, which resulted to a number of force majeure arising from circumstances beyond the operators’ control.

Giving details on the feats so far achieved on the country’s oil production and export, Group General Manager, Crude Oil Marketing Division of Nigerian National Petroleum Corporation (NNPC), Mele Kyari, said the Corporation has achieved 98 per cent automation of all transactions. These include the supply, marketing and sale of the various grades and blends of Nigeria’s crude oil across the world.

According to him, the automation exercise, which would be concluded in 2018, had enabled NNPC achieve an end-to-end monitoring of every barrel of crude oil sold in the country.

“Today, at a click of a button, we can tell you how much crude oil is sold, at what price, who bought it, and where it has gone to etc,’’ he said.

Kyari hinted further that the projection is to operate a completely paperless crude oil data management regime in line with the ongoing transformation of the processes before the end of second quarter.