Nigeria’s crude oil production rises to 1.48mbpd in June
kolaking.substack.com
This is 3.5% and 5.71% higher than its oil production of 1.43mbpd and 1.40mbpd in May 2023 and June 2022 respectively. However, the nation’s crude oil production still came short of the 2023 budget projection of 1.69mbpd for the year. Oil theft has been a major factor behind Nigeria’s low production numbers and the government has made concerted efforts through increased pipeline surveillance to clamp down on oil theft.
Nigeria’s crude oil production rises to 1.48mbpd in June
Nigeria’s crude oil production rises to…
Nigeria’s crude oil production rises to 1.48mbpd in June
This is 3.5% and 5.71% higher than its oil production of 1.43mbpd and 1.40mbpd in May 2023 and June 2022 respectively. However, the nation’s crude oil production still came short of the 2023 budget projection of 1.69mbpd for the year. Oil theft has been a major factor behind Nigeria’s low production numbers and the government has made concerted efforts through increased pipeline surveillance to clamp down on oil theft.