26 August 2017, Sweetcrude, Lagos — Data obtained by SweetcrudeReports from the Organisation of the Petroleum Exporting Countries, OPEC, has shown that Nigeria’s crude oil production dropped by 150, 000 barrels per day in July.
The country’s production was said to have crashed after a disruption in the Trans Niger pipeline.
Speaking on disruption of production by pipelines, Kachikwu on Thursday, said the challenges are due to aging.
“We continue to have challenges, some of our pipelines are old, so these are basically technical. They are not militancy-induced stoppages, but they are basically maintenance-induced stoppages,” he said.
According to OPEC, the disruption in Nigeria’s production in July shot up crude oil price above $50p/b in the month.
Kachikwu on Thursday said the country’s production was slightly below 1.8b/d in July, saying condensates added 450, 000b/d to the country’s output in July.