Renewed Attacks: Nigeria’s Daily Oil Output Drops By 800,000 Barrels

An estimated 800,000 barrels of crude oil is now being lost daily following the renewed militant attacks on oil installations in the Niger Delta region.

Petroleum Resource Minister of State, Ibe Kachikwu, who made this known at a special session of the House of Representatives, said the attacks had reduced Nigeria’s daily oil production from 2.2 million barrels to 1.4 million barrels.

Kachikwu also said that over the last 20 years, Nigeria had not invested in the oil and gas infrastructure facilities, adding that pipelines are now 35 years old, and refineries are now old and down.

The minister said resources that the nation is now spending on the petrol importation, should be channeled towards the massive construction of infrastructure such as proper pipeline, proper tracking of pipeline and proper burial level of pipeline

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