Minister Lokpobiri Addresses Nigeria’s Crude Oil Shortfall, Expects Production Recovery
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has attributed the recent shortfall in Nigeria’s oil production during the first quarter of 2024 to challenges encountered on the Trans Niger Pipeline and maintenance activities by oil companies. In a statement by his Special Adviser on Media and Communications, Nneamaka Okafor, Minister Lokpobiri assured that efforts were underway to not only restore production to previous levels but also increase it.
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Lokpobiri clarified that the issues affecting production have been adequately addressed, with production expected to rebound in the coming days. Prior to these developments, Nigeria’s oil production, including condensate, stood at approximately 1.7 million barrels per day (bpd), a figure anticipated to be restored soon.
Additionally, the Ministry of Petroleum Resources is actively developing policies to optimize the utilization of all available oil wells in Nigeria, reflecting ongoing efforts to enhance the country’s oil production capacity.
