Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Nigeria petitions OPEC+, demands quota increase

    Nigeria petitions OPEC+, demands quota increase

    September 26, 2021
    Share
    Facebook Twitter LinkedIn WhatsApp

    …Projects 2mb/d production by December

    *Timipre-Sylva

    OpeOluwani Akintayo, with agency report

    Lagos — The Minister of State for Petroleum Resources, Timipre Sylva, said he has petitioned the Organization of the Petroleum Exporting Countries and its partners known as OPEC+ for an increased oil production quota for Nigeria.

    Sylvia revealed this at the Gastech 2021 conference in Dubai, according to S&P Global Platts.

    According to him, the country already wrote the group for an increment in its quota.

    He said: “We’ve put request on the table, and we expect that to be looked at.

    “We have capacity for more production than we are producing right now. Unfortunately, we are constrained by the quota.”

    The Minister said the country’s full production capacity of about 2.2 million barrels per day should be reflected in a revised quota, saying that the country’s production struggles is due to technical problems from re-tapping reservoirs that had been shut to comply with the stringent OPEC+ cuts of the past 17 months, adding that production struggles would soon be fixed.

    He said output could rebound to around 1.7 million barrels per day by November and two million barrels per day by the end of the year.

    “We had some issues from shutting down the reservoirs,” he was quoted as saying by S&P Global Platts.

    “When you shut down a reservoir, to restart it, sometimes there are challenges,” he added.

    Follow us on twitter

    Related News

    US oil/gas rig count falls for 6th week to 2021 lows – Baker Hughes

    Demand for US light sweet crude drops as OPEC+ ramps up output

    Nigeria loses N710bn to gas flaring in four months

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    US oil/gas rig count falls for 6th week to 2021 lows – Baker Hughes

    June 8, 2025

    Demand for US light sweet crude drops as OPEC+ ramps up output

    June 8, 2025

    ‘Ebonyi communities face pollution, abuse from Chinese mining firms’

    June 8, 2025

    Nigeria loses N710bn to gas flaring in four months

    June 8, 2025

    NNPCL cuts workforce by 197 employees in one year

    June 8, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.