Monday 26 September 2016

WITH SUSTAINED CEASEFIRE, KACHIKWU FORECASTS 2MBPD OIL OUTPUT BY DECEMBER

Minister of State for Petroleum Resources, Dr. Ibe KachikwuThe Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said Nigeria could end the year averaging a daily crude oil production of 2 million barrels per day (mbpd) from her oil fields, if the ceasefire on production disruptions declared by militants in the Niger Delta region is sustained.

Kachikwu said so far the ceasefire has enabled production from oil fields in the region to come up to 1.75mbpd, he added that this however is expected to rise to 1.8mbpd by October and then 2mbpd by December.
 

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