Nigeria may surpass OPEC quota as nnpclimited targets 2.2m bpd in 2023 | TheCable
January 12, 2023 9:14 AM
In 2022, Nigeria’s oil production was relatively low, with the country missing production target set by the Organisation of Petroleum Exporting Countries throughout the year.an all-time low of 972,394 bpd, and further fell to 937,766 bpd in September.Speaking during the interview, Kyari said there are supply shortages globally and no country is producing enough to close the supply gap.
“In our case, we had a different challenge – security challenge – that became very manifest early-2022. And of course, we took definite steps to bring back production and this is paying up. “So for us, we see a trajectory of restoring production, including condensate, within the year. Definitely, we believe that we can hit our target of 2.2 million bpd but our OPEC target is 1.8 million bpd, but we know that it is practical to do 2.2 million within 2023,” the NNPC boss said.He dislcosed that there are ongoing construction works on some of NNPC’s pipelines “which will clearly make 1.8 million bpd very easy to attain”.
“It is value for us. We’re delivering products to the country. We have sufficient cash flow to support this and there is a relationship between us and government.”Kyari noted that the country currently has no problems importing petroleum products, adding that this was due to the rehabilitation exercise at the country’s refineries.
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