Minister Lokpobiri Blames Shell’s TNP and Maintenance Activities for the Drop in Oil Production.
In response to the Organisation of Petroleum Exporting Countries (OPEC) announcement regarding Nigeria’s dwindling oil production, which declined from 1.427 million barrels per day (bpd) in January 2024 to 1.231 million bpd in March 2024, Lokpobiri addressed public concerns via his verified Facebook account. He reassured the public that Nigeria’s oil and condensate production capacity of 1.7 million bpd would soon be restored, affirming that decisive measures were already underway to rectify the situation.
Lokpobiri remarked, “In light of recent concerns regarding a decline in our oil production during the first quarter of this year, I want to assure everyone that we are implementing decisive measures to address the situation. The reported decrease was primarily due to issues with the Trans Niger Pipeline and maintenance activities carried out by some oil companies.”
He went on to say, “I am pleased to announce that these issues have been resolved, and production is anticipated to return to previous levels very soon. Our oil production, including condensate, which stood at approximately 1.7 million barrels per day, will soon be reinstated.”
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Moreover, Lokpobiri stressed the government’s dedication to maximizing the utilization of all available wells in Nigeria, with the goal of boosting production and generating vital revenue to stabilize foreign exchange reserves and finance crucial infrastructure projects outlined in the 2024 budget.
Despite these challenges, Lokpobiri called for renewed optimism and commitment to ensuring the sustainability and expansion of Nigeria’s oil sector, which remains pivotal for the economy.
