This is
higher than the 1.93 million bpd including condensate recorded at the end of
the third quarter in September.
The Federal
Ministry of Petroleum Resources made this disclosure in its facts and figures
for the oil industry released at the weekend.
The Ministry
added that the country trucked out 36.97 million litres in December; 7.61
million litres of Automated Gas Oil; 1.55 million litres of Dual Purpose
Kerosene; 1.82 million litres of Aviation Turbine Kerosene; and 0.20 million
litres of Low Pour Fuel Oil (LPFO).
Nigeria’s
crude oil production has been fluctuating in the last six months due to
pipeline obstructions, which resulted to a number of force majeure arising from
circumstances beyond the operators’ control.
For example,
a total of 57.92 million barrels of crude oil and condensate was produced in
September 2017, representing an average daily production of 1.93 million
barrels.
This
represents a decrease of 6.31 per cent compared to August levels. Of the
September production, Joint Ventures (JVs), and Production Sharing Contracts
(PSC), contributed about 29.43 per cent and 43.26 per cent respectively.
Speaking on
the progress made so far in the country’s oil production and export, Group
General Manager, Crude Oil Marketing Division of Nigerian National Petroleum
Corporation (NNPC), Mele Kyari, said the Corporation has achieved 98 per cent
automation of all transactions. These include the supply, marketing and sale of
the various grades and blends of Nigeria’s crude oil across the world.
He said the
automation exercise, which would be concluded in 2018, had enabled NNPC achieve
an end-to-end monitoring of every barrel of crude oil sold in the country.
“Today, at a
click of a button, we can tell you how much crude oil is sold, at what price,
who bought it, and where it has gone to etc,’’ he said.
He said the
projection is to operate a completely paperless crude oil data management
regime in line with the ongoing transformation of the processes, which have
witnessed sweeping reforms since 2015.
He listed
the reforms to include the open bid process of customer selection for lifting
and purchasing of Nigeria’s crude oil grades, emplacement of efficient crude
for product import processes, leading to savings of $1billion in one year as
well as the introduction of improved pricing system, which has evolved into a
robust and auditable pricing mechanism.
Kyari also
explained that the reform had led to the harmonisation of Nigeria’s crude oil
data and lifting information, providing access to major internationally
recognised reporting agencies like Plat and Argus Media to achieve real time
reporting of Nigeria’s crude oil transactions.
He said this
development had enabled the country to eliminate the perennial disagreement
with its major stakeholder, the Organisation of the Petroleum Exporting
Countries (OPEC) on actual production and lifting figures.
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