Nigeria’s oil production reaches 1.8 million barrels a day
By the AFREEQUE newsroom, based on Business Day Nigeria
Nigeria’s crude oil production has increased by 600,000 barrels a day to 1.8 million, according to Nigerian National Petroleum Company Limited. Its managing director, Bashir Ojulari, is targeting two million barrels a day in 2027 and plans $20 billion in investment, he said in Abu Dhabi.
Nigeria’s oil production has risen by 600,000 barrels a day to 1.8 million barrels a day, state oil company Nigerian National Petroleum Company Limited (NNPC) announced, according to Business Day Nigeria. Its managing director, Bashir Ojulari, said the company is targeting production of 2 million barrels a day by 2027.
Bashir Ojulari attributed the increase to implementation of the Petroleum Industry Act, improved investment conditions and greater cooperation between NNPC and its partners. He said further growth would depend on maintaining facilities, protecting existing operations and delivering new projects.
NNPC is also targeting $20 billion in investment through commercial agreements already concluded. Oil projects mentioned by Ojulari include Ubeta, led by TotalEnergies, Bonga South-West, developed by Shell, and Zabazaba, associated with Eni. The company also said it is in talks with ADNOC, the United Arab Emirates’ national oil company, and Chinese investors interested in Nigeria’s refineries.
The increase follows several years of decline linked in particular to oil theft, pipeline sabotage, underinvestment and operational disruptions. NNPC previously attributed a gain of 600,000 barrels a day to reforms in its oil production.
