FG to redouble oil production to meet OPEC demands



Timipre Sylva, minister of state for petroleum resources has said that Nigeria is putting every effort at producing 3 million barrels of petroleum products per day to meet the allocated quota for the country by the Organisation of Petroluem Exporting Countries, OPEC.

According to him, the country currently produces about 1.3 million barrels per day and concerted efforts were being made to increase production to meet OPEC’s demands.

Dr. Nasir Gwarzo, permanent secretary, ministry of petroleum resources, who represented the minister at 2021 graduation ceremony of Petroleum Training Institute, PTI, Effurun, Delta State, gave the assurance during the weekends

He said the mandate for the ministry to meet the quota was directed by federal executive council, FEC, within the shortest time possible, adding that the rehabilitation of Port-Harcourt refinery and Petrochemical Company are on course.

He said those of Warri and Kaduna will commence soon too.

‘Some of the strides of the petroleum ministry, one of which is the mandate to increase crude oil production to three million barrels per day. Today, we are producing about 1.3 million barrels per day. The ministry is putting all concerted efforts to meeting the current OPEC quota,’ the minister said, as quoted by ThisDay newspaper.

He also commented on the Petroleum Industry Act, PIA, saying the committee set up for its implementation will ensure that PTI carried out its responsibility of human capital development in the oil and gas sector in the country.

‘The major stakeholders like the OPTS, the Petroleum Ministry, the PTDF, NCDMB, the Petroleum Upstream Regulatory Commission and the Mid-stream and Downstream Regulatory Authority will be co-opted to ensure that PTI is supported with respect to policy achievement and funding,’ he assured.

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