25 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 on the Trans Niger pipeline.
Speaking on the disruption of production, Kachikwu on Thursday, said the challenge is 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 July production figures, caused crude oil price to rise above $50p/b in the month.
Kachikwu said the Nigeria’s oil production was slightly below 1.8b/d in July, adding that condensates accounted for an extra 450, 000b/d to the country’s output in July.