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Nigeria’s crude oil, condensate hit 1.67 million bpd, says Kyari

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Mele Kyari, the Group CEO of the Nigerian National Petroleum Company (NNPC) Limited has said that the country’s crude oil and condensates production is up to 1.67 million barrels per day as of August 30.

He made this known during a special Finance Ministry briefing led by Wale Edun, the Honourable Minister of Finance & Co-ordinating Minister of the Economy, as he shared his vision for Nigeria’s economy.

“This is substantial if you look at the situation where we are almost going below a million barrels… Some months ago,” he said.

Kyari commended President Bola Ahmed Tinubu for his unwavering commitment to de-bottlenecking the energy industry.

He said the President has re-engineed the country’s security approach to dealing with the challenges of security.

“We’ve already seen very significant changes in our production environment and we also use this opportunity to say that just checking the data for Wednesday the actual data for crude oil and condensate production is at 1.6 7 million barrels per day.”

According to the GCEO, the tax reforms by the president have led to 13 different taxes in the country’s oil and gas industry.

“I know that the team on the reforms are already looking at how the fiscal environment in the least very critical sector is stable because no one investing in this industry doesn’t have a line of sight of at least 10 years of fiscal stability and I know this is part of the recommendations that were made to the team.