Wednesday, 07 August 2024 04:53

Crude oil output rises on improved security - Navy chief

Rate this item
(0 votes)

Nigeria's oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday.

Crude production in Nigeria, a member of the Organization of the Petroleum Exporting Countries (OPEC), stood at 1.2 million barrels per day in February, Ogalla said. Oil major Shell has exited the country.

"We have stepped up surveillance and enforcement in the oil producing areas," the naval chief said.

"Right now, as we speak, the Nigerian Navy has 12 vessels on the sea to protect oil production and stem oil theft. We have arrested over 16 vessels, so far."

Ogalla said the force has blocked channels for the sale of illegally refined petroleum products.

The country's oil minister Heineken Lokpobiri said in May that Nigeria could produce 6 million barrels of oil per day with adequate investment in its energy sector.

He added that Nigeria and other African oil-producing countries lack the capital to explore and produce their oil and gas.

 

Reuters

January 09, 2025

This is the ‘biggest barrier to building wealth,’ says behavioral finance expert

I’ve been meaning to sell some company stock and diversify into another investment for awhile…
January 05, 2025

Northern elders call for suspension of Tinubu’s ‘draconian’ Tax Reform Bills

The Northern Elders Forum (NEF) has urged the Federal Government to suspend the implementation of…
January 07, 2025

5 tips for success in 2025

I’ve had my fair share of failed New Year’s resolutions. In the past, I’ve had…
January 04, 2025

Shy man cuts off 4 fingers instead of telling boss he wanted to quit his…

A 32-year-old Indian man admitted to cutting off four fingers on his left hand to…
January 08, 2025

Borno attack: Soldiers missing, casualties mount after base overrun

Four days after Boko Haram militants launched a deadly assault on a military base in…
January 09, 2025

Here’s the latest as Israel-Hamas war enters Day 461

Israeli troops recover body of Gaza hostage with signs son also killed The body of…
December 25, 2024

Stem cell therapy to correct heart failure in children could 'transform lives'

Renowned visionary English physician William Harvey wrote in 1651 about how our blood contains all…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.