– Declines Approval for $2.4bn Shell-Renaissance Deal
– Approves Four Other Divestment Deals
– “Nigeria Must Modernize Oil Infrastructure” – Elumelu
– “Pipelines Are Old” – Kyari
By Obas Esiedesa, Abuja
The Federal Government has revealed an ambitious plan to increase Nigeria’s crude oil production by one million barrels per day within the next 12 to 24 months.
This strategy aims to tackle key challenges in the sector, such as oil theft, pipeline vandalism, outdated infrastructure, and attracting investment.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported a dip in production from 1.571 million barrels per day in August to 1.544 million in September, representing a 1.68% decline. Despite this, the government’s new initiative promises to drive production back up through a series of targeted interventions.
Speaking at the launch of “Project 1MMBPD” to mark NUPRC’s three-year anniversary, President Bola Ahmed…
Source: Vanguard Newspaper
