Nigeria’s Chief of Naval Staff, Emmanuel Ikechukwu Ogalla, stated on Tuesday that the nation’s oil output has increased to 1.6 million – 1.7 million barrels per day. Ogalla credited enhanced security measures to combat crude theft for this improvement. He revealed that the Nigerian Navy has intensified surveillance and enforcement in oil-producing areas, deploying 12 vessels to protect oil production and curb theft. The navy’s efforts have yielded some fruit with the arrest of more than 16 vessels since the exercise began. Additionally, the force has blocked channels for the sale of illegally refined petroleum products. Before the navy ramped up security efforts, Nigeria produced 1.2 million barrels of crude per day, far below its OPEC production quota of 1.5 million bpd. With the navy clamping down on oil theft, the West African nation can potentially increase production enough to meet its OPEC quota and domestic demands.
SOURCE: REUTERS
Nigeria’s Oil Production Rises as Navy Clamps Down on Theft
