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Nigeria’s Oil Output Drops To 972,394 Bpd - Politics - Nairaland

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Nigeria’s Oil Output Drops To 972,394 Bpd by nlfpmod: 9:55pm On Sep 08, 2022
More worries for the Nigerian government as crude oil production dropped below the one million mark in August 2022.

Checks by TheCable showed that oil output averaged 972,394 barrels per day (bpd) for the month, hitting an all-time low.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its latest crude oil and condensate production data for August 2022.

According to the report, the drop is more than 10 percent compared to July 2022 production at 1.08 million barrels a day and lower than the 1.8 million bpd production quota set by the Organisation of Petroleum Exporting Countries (OPEC).

With condensate, production averaged 1.18 million barrels a per day for the month.

Nigeria had been struggling to meet over 1.8 million barrels per day production quota of the Organisation of Petroleum Exporting Countries (OPEC) occasioned by oil theft and pipeline vandalism.

It also affected the country’s earnings, resulting in a significant drop in monthly allocation to the federation account.

On Wednesday, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) said its members would withdraw services if there is no traceable progress in tackling oil theft.

Oil producers in Nigeria had also asked the federal government to tackle the menace of illegal oil bunkers, especially in the Niger Delta.

They said oil thieves are raking in ‘petrodollars’ while the country is bedevilled by low production.

https://www.thecable.ng/breaking-at-972394-bpd-nigerias-oil-output-drops-to-record-low/amp

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Odewaleadesoye(m): 9:58pm On Sep 08, 2022
My own fear is that how will Nigeria survive when all countries start to adopt electric cars?

28 Likes 1 Share

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Nobody: 9:58pm On Sep 08, 2022
That's cool

1 Like 1 Share

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Lastpharoah33: 10:01pm On Sep 08, 2022
These people are taking us back to dark ages,

30 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by cosmatika(m): 10:03pm On Sep 08, 2022
Very Good

Let this oil dry up let's know whether the Northerners truly want to live as one with the South-East and SS.

Let them quickly form the alliance Shettima the devil talked about with SW and let Biafra go

23 Likes 1 Share

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Emilokan1(m): 10:03pm On Sep 08, 2022
grin
Re: Nigeria’s Oil Output Drops To 972,394 Bpd by princepee: 10:03pm On Sep 08, 2022
cool Make the nonsense dry up make everybody rest!.
We dey produce crude yet we no get oyel,.
If e dry up everybody go answer em
Papa name .

17 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by careytommy37(m): 10:03pm On Sep 08, 2022
We screamed to the high heavens that bubu is a fraud but they used propaganda to spoil the name of a good man (GEJ) who only wanted what was best for the country.

bubu has never been known for competence and it was obvious this was always going to be the end result.

28 Likes 2 Shares

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by princepee: 10:04pm On Sep 08, 2022
cool sad Where is the six refinery in each geo-political zone promised by APC

10 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by LienwaltAbel(m): 10:04pm On Sep 08, 2022
According to some brain dead delinquents: Queen Elizabeth II is to blame. undecided

11 Likes 2 Shares

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Smartford: 10:04pm On Sep 08, 2022
Indirectly saying that the worst is yet to happen

5 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Michello5(m): 10:04pm On Sep 08, 2022
hmmmmm . on God o
Re: Nigeria’s Oil Output Drops To 972,394 Bpd by JoeRizzla(m): 10:08pm On Sep 08, 2022
No Qualms.
Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Obojuju: 10:08pm On Sep 08, 2022
Vote Peter Obi to move the country from crudeoil economy to other sectors that can give the country foreign exchange earning other than crudeoil. The country cant depend on this oil for too long.

Peter Obi from 2023 is moving the country from consumption to production to earn more foreign exchange.

19 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by EmekaMD(m): 10:09pm On Sep 08, 2022
When 1 dollar turns to 1k naira to buy agbado self go be luxury.

As far as they are concerned, they are showing IGBOS SHEGE.. hehehe �

7 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Igbodicool(m): 10:12pm On Sep 08, 2022
Dropping or Drying up?
After the north and west have loaned themselves to China for railway? OK naah.

They should not look at Igbo natural gas.
Our coal and oil were used but...
Our gas? No way!
Let the oil dry up first.

28 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by AlfaSeltzer(m): 10:12pm On Sep 08, 2022
Odewaleadesoye:
My own fear is that how will Nigeria survive when all countries start to adopt electric cars?

The Zoo must not survive.

Dumping my c class soon and getting a tesla.

2 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by clarocuzioo(m): 10:12pm On Sep 08, 2022
BUHARI cannot even sustain 2 million barrels per day production. This same Buhari and his ignorant urchins that were criticizing Goodluck Jonathan about crude oil production and sales.

Buhari is a calamitous disaster foisted on hapless Nigerians by Bola Ahmed Tinubu. And Tinubu is warming up to continue where Buhari stopped.

Nigerians, vote wisely.

10 Likes 1 Share

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by SouthSouth1914: 10:13pm On Sep 08, 2022
careytommy37:
We screamed to the high heavens that bubu is a fraud but they used propaganda to spoil the name of a good man (GEJ) who only wanted what was best for the country.

bubu has never been known for competence and it was obvious this was always going to be the end result.
Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Akwamkpuruamu: 10:14pm On Sep 08, 2022
Who is our Petroleum minister and what is his duties

3 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by femiasaolu2014: 10:15pm On Sep 08, 2022
It will soon drop to zero.

Let them keep stealing it from source and lining their pockets.

You think them Niger-Delta militants suddenly went silent by some miracle?

Or NNPC no longer makes any returns was normal?

Abeg they should carry go!!!

5 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by COMPAQ(m): 10:16pm On Sep 08, 2022
cosmatika:
Very Good

Let this oil dry up let's know whether the Northerners truly want to live as one with the South-East and SS.

Let them quickly form the alliance Shettima the devil talked about with SW and let Biafra go

Good question. The day oil finishes the lazy North will remember restructuring!

5 Likes

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by everythinggirly(f): 10:22pm On Sep 08, 2022
Is it that everything is going from top to bottom? It's getting out of hands.
Re: Nigeria’s Oil Output Drops To 972,394 Bpd by urbobo20(m): 10:26pm On Sep 08, 2022
I beg leave us alone and go after vessel owner s
Re: Nigeria’s Oil Output Drops To 972,394 Bpd by STOICREALIST: 10:26pm On Sep 08, 2022
You cannot sow thorns and reap apples.

9 Likes 1 Share

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by ZKOSOSO(m): 10:27pm On Sep 08, 2022
What BuhariAPC cannot destroy does not Exist......!!!
Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Vote4Obi: 10:38pm On Sep 08, 2022
We will wake up one day to hear that Nigeria is officially no longer a crude oil producing country.

1 Like

Re: Nigeria’s Oil Output Drops To 972,394 Bpd by Wintertime: 10:41pm On Sep 08, 2022
Biafrans
Re: Nigeria’s Oil Output Drops To 972,394 Bpd by mach7(m): 10:41pm On Sep 08, 2022
Hmmn.

I need we need to start telling ourselves the truth.

We can no longer continue to be an oil economy. Asides from the wanton degradation of the natural habitat of the Niger Delta, it has also led to the emergence of so called "oil barons" who have used ill gotten wealth from illegal oil bunkering to foster and forment trouble within Nigeria.

Actually, there has been a lot of improvement by the government especially the current one to improve other sectors of the economy such as Agriculture, Services and Digital economy. So as the moment, more efforts need to be geared towards reducing the oil component of GDP from its current ~10% to less than 5%.

That way we will become more resilient, wean ourselves off the "resource curse" and broaden our economic base which will lead to economic development.

We shouldn't also forget taxation. We need to increase our tax base and also tax ourselves more. For our society to develop, we need to earn more revenue for budgetary spending. To earn more revenue, we need to bear the pain of increased taxation.

Better soup, nah money kill am o!

It is well.

1 Like

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