NewStats: 3,263,601 , 8,180,709 topics. Date: Friday, 06 June 2025 at 06:29 PM 55393b

Africa’s second-biggest producer will finish repairs on the Forcados pipeline by June

New York: Nigeria will revive oil production this summer as it completes maintenance and repairs, and expects fellow Organisation of Petroleum Exporting Countries (Opec) to continue to cut their output in the second half of the year, Oil Minister Emmanuel Kachikwu said.

Africa’s second-biggest producer will finish repairs on the Forcados pipeline by June and complete maintenance at the Bonga oilfield the following month, Kachikwu said in a Bloomberg Television interview.

The country’s output slumped to 1.27 million barrels a day last month, the lowest in decades, according to data provided by the nation. It aims to reach 2.2 million barrels a day.

With production losses due to militant attacks, Nigeria had been exempt from output cuts by the Opec. The nation will the Opec measure once it has fully restored output it’s lost, which could happen as early as October or November, and meanwhile expects the counterparts to extend the cuts to keep oil prices above $50 (Dh183) a barrel, Kachikwu said.

“I’m not sure we have an alternative, we’ve got to,” Kachikwu said. “There’s a lot of energy around a six-month extension,” which should be “easy” to agree when ministers meet in May.

Maintenance reduced Nigeria’s output in March by 250,000 barrels, he said. Having been spared from militant attacks for three months, the country’s focus for boosting output is shifting away from security threats toward fiscal issues, he said.

The country’s long-delayed Petroleum Industry Governance Bill, which seeks to reform how the industry is regulated and funded, will be presented to lawmakers for consideration later this month.

Nigeria will also begin pay back a $5.1 billion debt owed to international companies including Exxon Mobil Corp. and Total SA this month.

Source: https://www.bloomberg.com/news/articles/2017-04-13/nigeria-to-revive-oil-production-even-as-opec-may-extend-cuts

I pray its not the usual stories,

My fellow nairalander na so dis position DE sweeeeeeeeeeeeeeeeet

Gradually, Nigeria will be back on track.

Enemies of state can go to blazes.

Them right now,

Government must ensure the pipelines are secured against attacks because what is the point repairing and damaging it again and again.

There is nothing like peace. We have so much to pipeline vandalism and militancy in the last one year.

This is a breath of fresh air...[quote author=LarryBee1k post=55815695]

Nigeria will also begin pay back a $5.1 billion debt owed to international companies including Exxon Mobil Corp. and Total SA this month.

I am happy to see this.

This is a good development provided we are sincere with it.

Let them do it first. Then, I will believe. For your web deg and web development check my signature.

This is a great news. I can imagine how the economy will respond once we are back to our full production capacity

Whatever that will translate to better living conditions for the people is welcomed.

May God bless Nigeria

Nigeria should think outside the box.

Nigeria should invest massively in the Agricultural sector.

More Nigerian should be employed in farms equipped with modern agric technology such as tractors,etc and by agro-allied industry that will convert the farm produce to finished product.

oil sector is giving politician and their cronie easy way to loot fund while poverty is getting wider and wider each day!

It has no meaning.

The senseless apc government has no direction and clueless.

wink2015:
Nigeria should think outside the box.

Nigeria should invest massively in the Agricultural sector.

More Nigerian should be employed in farms equipped with modern agric technology such as tractors,etc and by agro-allied industry that will convert the farm produce to finished product.

oil sector is giving politician and their cronie easy way to loot fund while poverty is getting wider and wider each day!

@
Yeah.
Agriculture is the way but we have no single leader that understand that.

APC is a curse.

OPEC is betting against innovation (technology). No one has ever done that and succeded.

USA will simply open up more Shale oil fields and we'll be back to status quo

eliment:
This is a great news. I can imagine how the economy will respond once we are back to our full production capacity

I need you to do a simple math. 5000 x $50 x #300 = ? When you do that you can then multiply 2,000,000 x $50 x #300. After that remove 60% for your Lying FG. That is what they make everyday and you are masturbating over 250000 barrels that Danjuma gives his mistresses.

uniqueboi:





I need you to do a simple math. 5000 x $50 x #300 = ? When you do that you can then multiply 2,000,000 x $50 x #300. After that remove 60% for your Lying FG. That is what they make everyday and you are masturbating over 250000 barrels that Danjuma gives his mistresses.

whatever calculations or maths you do all I know is we are getting there gradually. What do you think if the economy is stabilizing with a 1.2m bpd why won't it fare better when production reaches optimum.

LionDeLeo:
Gradually, Nigeria will be back on track.

Enemies of state can go to blazes.

Them right now,

was it not the same buhari that fomented all the trouble he is witnessing today??..who instigated the militants into attacking oil facilities??. ..when you guys talk about enemies I wonder who the enemy really is if not this dull istration that embarked on a fruitless challenge to oppress and pocket the Niger delta... nonsense..

The whole nation depends on the Niger delta for survival and yet buhari thought he could use the military on us as a people..i hope him eye Don clear like day light..

bayelsaowei:
was it not the same buhari that fomented all the trouble he is witnessing today??..who instigated the militants into attacking oil facilities??. ..when you guys talk about enemies I wonder who the enemy really is if not this dull istration that embarked on a fruitless challenge to oppress and pocket the Niger delta... nonsense..

The whole nation depends on the Niger delta for survival and yet buhari thought he could use the military on us as a people..i hope him eye Don clear like day light..

You forgot to add, he also reduced the price of crude oil in international market from $120pb to $28pb...

LionDeLeo:


You forgot to add, he also reduced the price of crude oil in international market from $120pb to $28pb...

is that the point I have made...address the point I raised. ..with low oil prices we could have made a little cash if our output were not distorted..but our malam with his gra gra nuked everything... ...

bayelsaowei:
is that the point I have made...address the point I raised. ..with low oil prices we could have made a little cash if our output were not distorted..but our malam with his gra gra nuked everything... ...

The added point is as true as the one you had raised.

LionDeLeo:


The added point is as true as the one you had raised.

what's remaining is for the Niger delta to get a hold on resource control so that no malam interferes with our business..

bayelsaowei:
what's remaining is for the Niger delta to get a hold on resource control so that no malam interferes with our business..

Wish you the best.

eliment:
whatever calculations or maths you do all I know is we are getting there gradually. What do you think if the economy is stabilizing with a 1.2m bpd why won't it fare better when production reaches optimum.

Bros let nobody deceive you. Nigeria sells 2.1million BPD. If you wish to know you can find out from more reliable sources than these liars you're representing. I hope I am not talking to one of the "Zone Bs"

You guys know the truth but always deviate from it. Why blame someone else for all the issues in ND? Alison didn't remit oil money into federation but looted it with few officials that were involved. But Buhari has all the blames while your sister is a saint. Its a great shame on her that despite all she stole from you people cause she's there as minister cause of all Bayelsans, she's a prisoner now under house arrest in far away UK.

bayelsaowei:
was it not the same buhari that fomented all the trouble he is witnessing today??..who instigated the militants into attacking oil facilities??. ..when you guys talk about enemies I wonder who the enemy really is if not this dull istration that embarked on a fruitless challenge to oppress and pocket the Niger delta... nonsense..

The whole nation depends on the Niger delta for survival and yet buhari thought he could use the military on us as a people..i hope him eye Don clear like day light..

kenyad:
You guys know the truth but always deviate from it. Why blame someone else for all the issues in ND? Alison didn't remit oil money into federation but looted it with few officials that were involved. But Buhari has all the blames while your sister is a saint. Its a great shame on her that despite all she stole from you people cause she's there as minister cause of all Bayelsans, she's a prisoner now under house arrest in far away UK.

who instigated militancy in recent times if I may ask you..who??..who infuriated the Niger delta into attacks on oil facilities...seems you've been living abroad...mtsheew..

[s]

bayelsaowei:
who instigated militancy in recent times if I may ask you..who??..who infuriated the Niger delta into attacks on oil facilities...seems you've been living abroad...mtsheew..

[/s]

see mumu yarns

vedaxcool:
[s][/s]

see mumu yarns

go hide your face...buhari has learnt his lessons the hard way...nobody messes with the delta..the old man has grown some sense..

bayelsaowei:


The whole nation depends on the Niger delta for survival and yet buhari thought he could use the military on us as a people..i hope him eye Don clear like day light..

If not for the military, your lazy criminals would have still been blowing their lands to smithereens, but thanks to the Air Force and it's persuasive cannons, sanity has been restored in the Niger Delta for the past few months.

Fruitless indeed .

QuotaSystem:


If not for the military, your lazy criminals would have still been blowing their lands to smithereens, but thanks to the Air Force and it's persuasive cannons, sanity has been restored for the past few months.

Fruitless indeed .

the military is doing nada..buhari has bent completely to our orders...i repeat the military has done nada..

And it's whose business if we decide to blow up our lands??..how is it your goddamn business..oh I understand..you and your kinds are all leeches...waiting for the delta to feed your lazy sick asses..

bayelsaowei:
the military is doing nada..buhari has bent completely to our orders...i repeat the military has done nada..

And it's whose business if we decide to blow up our lands??..how is it your goddamn business..oh I understand..you and your kinds are all leeches...waiting for the delta to feed your lazy sick asses..

Whatever makes you feel better kiddo

#kissthetruth