couragemurphy:
EGINA FIRST OIL CONFIRMED...... +200,000bopd

God Bless TEPNG
God Bless SAI BABA 4+4
God Bless the Federal Republic of Nigeria
And God bless all Patriotic Nigerians that are happy to hear/believe such good news

4+4 = Ne×t Le✔el



EGINA FLARE BURNING BRIGHT

netpro:
Nigeria will keep moving forward under the able leadership of President Buhari.

Few weeks ago, some were running their mouths that Buhari's budget was unrealistic due to production volume.

We will not allow the criminals we chased away to return and steal everything unabated again.

couragemurphy:
EGINA FIRST OIL CONFIRMED...... +200,000bopd

God Bless TEPNG
God Bless SAI BABA 4+4
God Bless the Federal Republic of Nigeria
And God bless all Patriotic Nigerians that are happy to hear/believe such good news

4+4 = Ne×t Le✔el



EGINA FLARE BURNING BRIGHT

jayson87:
EGINA na GEJ's stuff... FACT CHECK

SternProphet:


TOTAL E&P stuff. Not GEJ, not PMB.

Brass LNG was GEJ - Not done
Olokola LNG was OBJ/GEJ - Not done
Bonny LNG Train 7 GEJ - Not done.

GEJ added not one single barrel in terms of new projects or additional crude oil reserve to Nigeria in six years.
Even OBJ and Abacha achieved far more.

We will leave GEJ alone to God onky he knows the truth and emotions, sentiment and propaganda don't count with him.

shachris02:


we've actually moved backwards. we were producing more than this during PDPs tenure.

netpro:


And what PDP do with it? Even when they sold at a higher rate?

Buhari has done exceptionally well in managing limited resources. His second tenure will be better.

shachris02:


I thought did was about oil production and who produced more?

Forget what they did with the money....that's an argument for another day. Right now Buhari's playing catch up with GEJs level of oil production.

SternProphet:


Are they actually making 200,000 barrels per day now?. Please confirm your figures

netpro:


Buhari has done well. Tomorrow PDP will sponsor another militants to undermine you economic growth.

mustmust:
Yet budget performance is below 15% . which one person go believe sef

jayson87:
EGINA na GEJ's stuff... FACT CHECK

DonFreshmoney:
Increase in oil output only benefits the canals and nothing else.

How does this concern the ordinary Nigerians in the street? They should better reduce fuel prices or its a useless news.

The NNPC GMD said $1.7billion was saved with corporation’s Joint Venture (JV) partners over a five-year tenor repayment plan, saying already the corporation has defrayed $1.5billion of the arrears.

permit:
at the end of the its all scam trust APC at your own risk

StOla:



From the $5b JV debt that the Jonathan regime managed to pile up in unpaid counterpart funding, despite that crude oil revenue was a windfall at over $100/barrel.

PassingShot:

You are Obiliar and Atiku combined in one person.

SternProphet:


TOTAL E&P stuff. Not GEJ, not PMB.

Brass LNG was GEJ - Not done
Olokola LNG was OBJ/GEJ - Not done
Bonny LNG Train 7 GEJ - Not done.

GEJ added not one single barrel in terms of new projects or additional crude oil reserve to Nigeria in six years.
Even OBJ and Abacha achieved far more.

We will leave GEJ alone to God onky he knows the truth and emotions, sentiment and propaganda don't count with him.

Shuku0kukobambi:


GEJ actually left debt of $6.8B in the cash call regime, not $5B in-spite of very high oil prices and unprecedented production

https://www.vanguardngr.com/2018/07/jv-cash-calls-iocs-commends-nnpc/

StOla:



Yes you are right.

The government then secured a discount of $1.7b, with $5.1b still owed.

A debt that is now being gradually fulfilled to the consternation of PDP and its 16yrs zombified wailers.

...The NNPC GMD said $1.7billion was saved with corporation’s Joint Venture (JV) partners over a five-year tenor repayment plan, saying already the corporation has defrayed $1.5billion of the arrears....

Shuku0kukobambi:


In fact, the FG has already defrayed $1.5B of the $5.1B that was left meaning we might have just $3.6B still being owed

StOla:



What I am yet to understand is how Jonathan's 5yr regime inherited over $20b savings, $47b foreign reserves, made so much oil revenue with crude oil selling at over $100/barrel for 4yrs out of 5yrs, yet managed to run everything aground and still ensured to increase our debt profile in multiples.

It is almost an economic impossibility, especially when the major achievement of that regime was 2nd hand trains because we are not America according to Doyin Okupe.

michlins:
dem still dey flare gas?


I hope that with improved revenue, the federal government will stop mortgaging the future of Nigeria by borrowing

Mrakeli:


Nigeria’s crude oil daily production is up by 9 per cent to about 2.09 million barrels.

Nigerian National Petroleum Corporation (NNPC) Group Managing Director Dr. Maikanti Baru said this maintained a line of consistent year-on-year improvement.

Dr. Baru, in a comprehensive end-of-year-message to the NNPC staff, listed Nigerian Petroleum Development Company (NPDC), Nigerian Gas Company (NGC), Petroleum Products Marketing Company (PPMC), Duke Oil, NIDAS and Integrated Data Services Limited (IDSL) among the re-engineered companies.

In the statement signed by NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, Baru singled out NPDC, the corporation’s Upstream flagship company, as the major contributor to the industry’s success in 2018.

Baru said the average production from NPDC’s operated assets alone grew from an average of 108,000 of oil per day (bod) in 2017 to 165,000bod in 2018, describing the feat as the strongest production growth within the oil industry in recent times, even as he noted that it was worth being celebrated.

The GMD said NPDC’s equity production share, which stands at 172,000bod, representing about 8 per cent of national daily production, was no less impressive, adding that the desired results are outcomes of initiatives his Management team emplaced, among which, he noted, are the Asset Management Tea (AMT) structure, Strategic Financing, Units Autonomy and security architecture framework.

Of the Industry milestones in the outgone year, Baru described the 200,000bop addition which the Egina Floating Production Storage and Offloading (FPSO), completed and sailed away to location in August, last year, added to nation’s daily production, even as he disclosed that the project achieved First Oil at 11.20pm on 29th December, 2018.

The NNPC GMD said $1.7billion was saved with corporation’s Joint Venture (JV) partners over a five-year tenor repayment plan, saying already the corporation has defrayed $1.5billion of the arrears.

Baru promised that NNPC would stick to the Repayment Agreement with the JV Partners while transiting to self-funding IJV modes with the corporation’s partners. He said tiding up Cash Call issues had led to increased commitment and enthusiasm to invest in the industry even as it has also boosted NNPC’s credit profile internationally.

Baru concluded the achievements of NNPC in the Upstream sector by listing other milestones achieved by his team to include: reduction in contracting cycle for Upstream Operations to nine months from an average of 24, even as the corporation targets a six months cycle; lowering of production cost from $27/barrel to $22/barrel; and improving on the security situation in the Niger Delta through constructive engagement and dialogue with stakeholders.

In the frontier basins, NNPC has intensified exploration in the Benue Trough, with the expected spudding of Kolmani River Well 2 on 19thJanuary.

Activities will resume in the Chad Basin as soon as there is a greenlight on the security situation in the enclave.

In the Midstream, the NNPC GMD stated, Nigeria achieved an average national daily gas production of 7.90bscf, translating to 3 per cent above the 2017 average daily gas production of 7.67bscf.


He said of the 7.90bscf produced in 2018, an average of 3.32bscfd (42%) was supplied to the export market, 2.5bscfd (32%) for Reinjection/Fuel Gas, 1.3bscfd (16%) was supplied to the domestic market and about 783mmscfd (10%) was flared.

The GMD stated that out of the 1.3bscfd supplied to the domestic market, an average of 71mmscfd went to the Power Sector; 470mmscfd was supplied to the Industries and the balance of 69mmscf delivered to the West African Market through the West African Gas Pipeline (WAGP).

Baru said NNPC would bridge the medium-term domestic gas supply deficit by 2020 through the corporation’s Seven Critical Gas Development Projects (&CGDPS), adding that a reputable Project Management consulting firm is collaborating with an NNPC team to achieve accelerated implementation of the projects.

He lauded the contribution of the corporation’s Downstream outfit, NNPC retail, saying it played a significant role in ensuring continuous supply of petroleum products to Nigerians through its Mega, Affiliates and Leased stations.

Baru flaunted the company’s sale of 1.2 billion litres of petroleum products in 2018 as against 1.1 billion litres in 2017, representing a seven per cent increase.

He said the feat was achieved through an addition of 40 new Affiliate and Leased stations, which he said, brought the company’s network to 618 stations nationwide.

“We are currently planning for a better performance and achievement in 2019, especially with the continuous innovations and creativity in the downstream sector and the performance bond signed by all the relevant heads of our operating units.

“Continuous improvement as one of the principles of world class organisations is going to remain our key word in 2019. Last year was empirically better than 2017, we believe, plan and strive to achieve a better performance this year, by God’s grace,” Baru concluded in his end-of-year statement.

https://www.akelicious.net/2019/01/oil-output-hits-209m-barrels.html

shachris02:


Shut it. This is an average production rate during PDPS tenure.

Aystarz:



Actually, news like this are useful to garrulous zombies who believe all they are told because that's what zombies do.