Reports have it that Kachikwu's introduction of back channel overtures in the oil sector has improved the fortunes of the Nigerian economy facing a grave challenge. Minister of State for Petroleum Resources, Ibe Kachikwu has overturned the bad fortunes of oil production in Nigeria which has dipped as a result of the spate of Niger Delta militancy in the South-south region.
A reliable official source in state oil company, the Nigerian National Petroleum Corporation (NNPC) who spoke to ThisDay under the condition of anonymity reveals Nigeria's crude oil production maybe increased to 2.3 million barrels daily.
The source who spoke on the condition that his name would not be disclosed in this report, explained that the back channel overtures initiated by Minister of State for Petroleum Resources, Dr. Ibe Kachikwu to halt bombing of oil facilities and disruptions in production by militants in the Niger Delta were already yielding results.
He said, based largely on the resilience of operators in the country’s oil fields, repair of vandalised facilities have been largely completed and production resumed.
Although the source did not list which of the oil facilities had been repaired and from which the increase in volume was achieved, THISDAY learnt it may include Eja OML79 run by Royal Dutch Nigeria subsidiary, Shell Petroleum Development Corporation (SPDC) where production of 90,000 barrels is achieved every day; Obi Obi Brass trunk line belonging to Agip ENI in Bayelsa State; Nembe 1, 2 and 3 Brass to Bonny Trunk Line belonging to Agip and Shell; as well as Chevron’s Makaraba line on the offshore Okan manifold amongst its other facilities at Abiteye, Utunana and Makaraba platforms in Warri South-west area of Delta State.
According to him, operators are already ramping up their production levels and could within the second week of July hit 2.3mbpd, perhaps some few weeks ahead of Kachikwu’s earlier projection of August as a cut-off date to restore Nigeria’s production to about 2.2mbpd. President Muhammadu Buhari is currently leading the negotiation with the militant which has served as a watershed in dousing the ongoing economic sabotage by organized groups in the region.
I am a metro reporter on Gistmania, I have been publishing news materials for over 5 years
Posted: at 27-06-2016 11:50 AM (7 years ago) | Hero
That's the problem of a country that depends on single commodity. We need to shift from the paradigm of doing little with much to doing much with little. The abundance from the oil seems to be a curse than blessing to Nigerians. We need to move a step higher if we must solve our problems. Herbert Einstein once said- 'the significant problems that we face cannot be solved at the same level we were at when we created them'
Posted: at 27-06-2016 01:39 PM (7 years ago) | Hero
Later u will cum n tell us no money..... "has dre ever been money with govt".... U hav wasted one year n a month already.. "Keep deceivin ur clueless self"
Posted: at 27-06-2016 01:53 PM (7 years ago) | Hero
WHAT DOES THIS IMPLIES... I HOOPE IT RESULTS TO DRASTIC AND RAPID REDUCTIION IN PUMP PRICE, AT LEAST N87 IF NOT N45 AS PROMISED BY APC.... NIGERIANS ARE WATCHING AND WAITING
I have been reporting for several years now and I am very interested in visual news reportage with strong inclusion of photos and video multimedia.
Posted: at 27-06-2016 06:56 PM (7 years ago) | Addicted Hero
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