Nigeria Negotiates Better Production Quota With OPEC+
Sep 22, 2021 ·
1m 5s
Nigeria has written the Organisation of Petroleum Exporting Countries requesting a higher production quota under the OPEC+ accord. The Minister of State, Petroleum Resources, Chief Timipre Sylva, says the technical...
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Nigeria has written the Organisation of Petroleum Exporting Countries requesting a higher production quota under the OPEC+ accord.
The Minister of State, Petroleum Resources, Chief Timipre Sylva, says the technical problems that had hampered the country’s output would soon be resolved.
Sylva says the country’s full production capacity was closer to 2.2 million bpd, which should be reflected in a revised quota, even though Nigeria has struggled to produce at its current allocation.
He says that the country deserves a higher quota, noting that aside its efforts to fix the technical difficulties, the basis for the current production quota, which was mainly because of the problems in the Niger Delta at the time, no longer exists.
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The Minister of State, Petroleum Resources, Chief Timipre Sylva, says the technical problems that had hampered the country’s output would soon be resolved.
Sylva says the country’s full production capacity was closer to 2.2 million bpd, which should be reflected in a revised quota, even though Nigeria has struggled to produce at its current allocation.
He says that the country deserves a higher quota, noting that aside its efforts to fix the technical difficulties, the basis for the current production quota, which was mainly because of the problems in the Niger Delta at the time, no longer exists.
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