Nigeria’s Crude Oil Output is Inadequate To Meet Energy Needs – IPPG

The current crude oil production of about 1.4 million barrels per day remains very low and hugely inadequate to meet Nigeria’s energy requirements and socio-economic goals, the Independent Petroleum Producers Group (IPPG), has said.
Its chairman, Abdulrazaq Isa, said this in a goodwill message at the third anniversary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
He advocated the need to reposition the nation’s upstream sector, adding that IPPG will continue to strongly press for steps aimed at arresting the dwindling production.
He reiterated call for urgent actions aimed at unlocking incremental production growth in the short to medium term, even as he recommended the unblocking all hurdles to Final Investment Decisions (FID) on IOC deepwater projects.
“Enhancing security across the Niger Delta for a conducive operating environment and stemming incidences of asset vandalism and unrest.
“Upgrading and expanding industry infrastructure to enhance efficiency and reliability of product supply to both the domestic and export market,” he stated.
He congratulated the NUPRC, stating that the Commission had made notably strides since its establishment particularly through the diligent implementation of the Petroleum Industry Act (PIA).

Source: independent.ng

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