Connect with us

Lifestyle

“Crude oil production stands at 2.35m barrels per day” – NNPC

Published

on

The Group Managing Director of NNPC, Maikanti Baru

The  Nigerian National
Petroleum Corporation (NNPC) said on Monday that the  nation’s  current
crude oil production had risen to 2.35 million barrels per day. The Group Managing Director (GMD), Dr. Maikanti Baru said this  at the inauguration of  the   members of the corporation’s  re-constituted anti corruption committee  in Abuja.

He said : “In
the upstream, we have  also been making strides  in the stability and
security in the Niger-Delta and  production is coming back steadily.
“At
one point, we have reached the level of almost 2.35 million barrels per
day, including condensates, which accounts for about 400,000 barrels
per day.”
Baru said it was cherry that petroleum products supply in the country was being sustained.
He
attributed the steady supply to conscious plan by the management, with
support from staff and other stakeholders in the industry.
“I
want to  thank  each member of staff and our clients involved in the
supplies of petroleum products and other services  in the country, for
sustaining the supply of petroleum products across the country; the
status quo has been restored.
“We
are in the period of  ease, it is not too long ago in December, 
January and February, when  NNPC was a sole importer of petroleum
products in this country with the challenges associated with
distribution and the caped  price of N145  to a liter of petrol.

We got some ease when the international price went down and the
importers decided to come back to import because they can make some
margin; they have raised the importation level to  about 30 per.“
He said it was  important  to  keep  the  stability of  the supply of petroleum products ongoing.
The
NNPC GMD  also said the corporation was committed to exiting  the cash
call, noting that the Federal Government  had provided the required
support.
“As you are aware, we have
committed to exiting the cash calls process and government has been very
supportive and they have given us all approval and endorsement in that
direction, particularly the economic council  and the entire three tiers
of government have endorsed this project, and we have started the
implementation.“
He said that the
four Joint Venture Projects NNPC signed with its JV partners would
result into incremental revenue for the country within the less than 10
years of the  lifespan of the projects.
He said  that  the  projects were attracting the inflow of foreign direct investments in the nation’s oil and gas sector.

The NNPC GMD said: “In
our joint venture  project with  Chevron, we have attracted an  over
subscribed 1.2 billion dollars Foreign Direct Investment.
“The E and P joint venture with NNPC attracted 800 million dollars foreign direct investment which was signed up  in May.
“Last week in London, the NNPC, Shell Agip and Total joint venture attracted over  1 billion dollars  foreign direct investment.
“ The Chevron, NNPC  Joint venture project is 780 million dollars worth of  investments.“
Baru also said that the projects would serve as an avenue for the corporation to exit the JV cash call.
“The
JV cash call has components; we have to pay arrears of about six
billion dollars that were incurred in 2016 in JV operations.
“We
 are paying up  about one billion dollars 2016 arrears we started in
April; we have paid in 400 million dollars and we hope to pay the
balance before the anniversary of the first payment.“
According
to him, NNPC, on behalf of the government, will ensure  that every
surplus from the corporation at the end of the year after deducting the
cost of operation, will be returned to the national treasury.

Advertisement

Ike Ani is a Freelance writer whose quest constantly is to relate happenings around the world to human daily living. He's also a song writer and singer, Acoustic Guitarist, and Teacher.

Click to comment

Leave a Reply

Lifestyle

L. A Prisoners Infect Themselves With Coronavirus To Get Early Release (VIDEO)

Published

on

By

A group of silly L.A area prison inmates were very eager to contract the dreaded coronavirus .

They attempted this because they believed that would trigger their ticket out of prison.

According to the L.A. County Sheriff Alex Villanueva who made the startling revelation Monday, said about twenty-four (24) inmates at the Pitchess Detention Center in Castaic attempted (and somewhat succeeded, apparently) to infect themselves way back in mid-April 2020.

The Sheriff revealed that their department saw an increase in spike in confirmed cases out of nowhere.

He said that when they investigated, they found a high number of inmates living in one block of the prison appeared to be deliberately trying to infect each other with COVID-19 any way they could from behind bars.

When Alex Villanueva played the surveillance footages he and his team combed through carefully , and it showed several inmates hanging out in a common area and passing around what Alex described as a hot cup of water, as well as one face mask they’d each put on all in hopes of getting sympathy from a judge to spring them from the facility and let them go home.

But it turns out, their little ploy worked but, only halfway.

Villanueva reported that 21 of the inmates (out of 50 in the block) caught the ‘Coronavirus.

“What they won’t catch is a break” said the Sheriff.

Watch the Video HERE

Advertisement
Continue Reading

Lifestyle

COVID-19 LOCKDOWN: 12 Year Old Albino Girl Suffers Eye Problems After Hawking Veggies In Abuja (PHOTOS)

Published

on

By

A very sad Facebook post greeted Nigerians from Abuja showing a 12 year old Albino Girl Grace, who started developing sight problems after Hawking Veggies under the scorching sun in Abuja.

The Facebook post stated that the little girl was asked to hawk the veggies by her aunt whom she lives with.

Below are the Screenshots of the Facebook post:

This sad news has sparked an outrage by well meaning individuals who spoke against such cruelty and insensitivity of the said girl’s aunt.

what do you think of this? Drop your comments below.

Advertisement
Continue Reading

Lifestyle

“Buhari is Made In London” – Reno Omokri Blasts Presidency On Nigerian Made Products

The Buhari administration has been known for enforcing the Nigerian people to patronize Nigerian made goods though without much strategy to make life easier while this transition to economic growth is enforced.

Published

on

By

Reno Omokri Nuggets

The Buhari administration has been known for enforcing the Nigerian people to patronize Nigerian made goods though without much strategy to make life easier while this transition to economic growth is enforced. Many Nigerians have tagged it a harsh move that is insensitive and inhumane but moreso, Reno Omokri has singled out signals of hypocrisy in the President of Nigeria by outlining certain traits of family moves of the President that shows that he(Buhari) as the No.1 citizen has no regards for anything made in Nigeria but yet wants other Nigerians to embrace Nigerian made goods.

Reno Omokri ‘s tweet reads:

His kids schooled in England. His wife just returned from a 3 month UK stay. His daughter gave birth to his grandchild in Spain (made in Spain), yet
@MBuhari
, who is London, wants us to patronise made in Nigeria!

Advertisement
Continue Reading

Trending