Nigeria’s oil output is rising as losses through pipelines decline, with improved security, reduced oil theft and Niger Delta stability supporting higher production, DARE OLAWIN writes
Nigeria is witnessing a rise in oil production, driven by several factors, including a sustained reduction in pipeline losses and improved security of oil assets.
The Nigerian Upstream Petroleum Regulatory Commission’s July report showed that oil losses through pipelines had fallen to historical lows. Nigeria’s combined crude oil and condensate production also rose to approximately 1.735 million barrels per day in June, following improved security of oil assets.
The production milestone represented a fourth consecutive monthly increase and was attributed to the peace and stability in the Niger Delta, as well as the impact of Tantita Security Services Nigeria Ltd operations in protecting national assets, particularly oil pipelines in the region.
For years, Nigeria grappled with losses running into billions of dollars as a result of sabotage of oil installations and pipelines, community interference and production shutdowns. The losses negatively affected national revenue and kept oil production at low levels.
