FG targets OPEC oil quota in 2023

Marcus Amudipe
Marcus Amudipe
FILE PHOTO: A 3D-printed oil pump jack is seen in front of the OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic

 

 

The Minister of State Petroleum Resources Chief Timipre Sylva has assured that Nigeria will work hard to meet its crude oil production quota of the organisation of Petroleum Exporting Countries which is 1.8 million bpd by the end of May 2022.

According to The Nation, his Special Adviser Media and Communications, Mr. Horatius Egua, who disclosed this in a statement, quoted him as saying the shortfall was due to loss of crude from the pipelines.

According to him, the Minister said this a day after OPEC member nations decided to maintain their production cuts in order to preserve market stability.

According to Sylva, the federal government will keep enhancing security along the routes of the main crude oil pipelines and stop any leaks that allow oil thieves and pipeline vandals to steal crude oil.

He stated that it is not due to a lack of production capacity on the part of crude oil producers that Nigeria is unable to meet the current OPEC quota.

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