According to Hellenic Shipping News article published on December 13, 2022, Nigeria’s oil production hit 1.6 million barrels per day (bpd) from 900,000 bpd on the return of Forcados crude oil terminal and partial restoration of the Trans Niger Pipeline (TNP), Nigerian National Petroleum Company (NNPC) official told London-based Arise News TV.
The national oil company was able to ramp up crude oil production, which had fallen significantly, with the collaboration of the security agencies, regulators and other stakeholders, said Chief Upstream Investment Officer of the NNPC Upstream Management Services Bala Wunti.
He revealed that Nigeria was losing about 21 million barrels per month and up to $1.9 billion every 30 days before the recent recovery.
Wunti said that at least 68 vessels have been impounded since the renewed fight against crude oil theft, with some of the culprits being prosecuted. About 638 out of 763 illegal refineries have also been destroyed.
