Nigeria raises oil production up to 2 million bpd

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Nigeria raised its crude oil production up to 1.9 million barrels per day, S&P Global Platts informs citing the country’s oil ministry.

"We have built capacity of up to 2.4 million b/d, but [we are] currently producing about 1.9 million b/d," Omar Farouk, the special adviser on international energy relations to Nigeria's oil minister of state, said on the ministry's twitter handle. He also added that the country needs investment to increase the reserves and output, "Nigeria has produced over 10 billion barrels of oil since the year 2000. However, we have not discovered this much in the same period.”

Militant attacks on the pipelines and facilities in the oil rich Niger Delta region led to a dramatic drop in crude production. Nigerian output decreased to near 30-year lows of around 1.5-1.6 million barrels per day in August from 2.2 million bpd earlier this year, according to government estimates.

S&P Global Platts reports that the country’s officials started preparation works to the arrangement of talks with Niger Delta leaders to put an end to the aggression in the region.