Nigeria can increase oil production by about 100,000 barrels per day over the next few months, says Bashir Bayo Ojulari, group CEO of Nigerian National Petroleum Company (NNPC).
The country averaged about 1.6-million to 1.7-million barrels per day last year and is hoping to average 1.8-million bpd this year, Bayo Ojulari told Reuters on the sidelines of the CERAWeek by S&P Global conference in Houston, when asked if Nigeria could help make up for the crude shortfall resulting from the US-Israeli war on Iran.
“We are building that capacity,” he said, though he added “we are not like Saudi [Arabia],” referring to the top OPEC member. “But we can contribute.”
During an on-stage interview at the conference, Bayo Ojulari said NNPC completed a full portfolio review of its business last year, and is beginning to implement changes this year.
One focus is working to improve execution and ensuring projects are delivered on budget and on time, after previous delays, he said.
Reuters
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