Floods cut 500,000 barrels of Nigeria’s daily crude production

Nigeria’s oil production has been cut by 500,000 barrels of crude oil daily, due to the massive flooding that swept across the country. The loss translates to $53.5million daily. Department of Petroleum Resources (DPR) Director Osten Olorunsola stated this yesterday during the DPR’s third quarter media briefing in Lagos. He said the situation forced the country’s production down to 2.1 million barrels per day (bpd) from over 2.5 million but noted that as the flood is receding, production has begun to ramp up to 2.3 million bpd. Read more

Image culled from: http://thenationonlineng.net/new/news/floods-cut-500000-barrels-of-nigerias-daily-crude-production

About Author: Integrity Org

Integrity Organization is committed is an anti-corruption, research and advocacy organization. Its activities are centered on the aim to reduce the tolerance for corruption in Nigeria.

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