Crude oil production rises to two million barrels – Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has stated that crude oil production had risen to two million barrels per day.

With this, Nigeria now produces additional 200,000 barrels per day, up from the 1.8 million bpd recorded in recent times.

Kachikwu made the disclosure when he met with the House of Representatives Committee on Petroleum Resources (Upstream) to defend the 2017 budget estimates of the Ministry of Petroleum Resources.

The committee is chaired by a member from Delta State, Victor Nwokolo.

Kachikwu, who also spoke on the Forcados Oil Terminal, informed lawmakers that repair works on the facility were nearing completion.

“In some weeks, we will be able to progress to 2.2 million bpd, which is the target of the (2017) budget,” he added.

Speaking on other plans of the government to repair or replace old distribution lines and platforms to improve delivery of products.

However, he alluded to poor releases of budgeted funds as a challenge slowing down some projects of the ministry

 

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