The latest data from OPEC indicated that Nigeria missed its oil production target again in February, as it produced 1.258 million barrels per day, far less than the target of 1.683 million bpd as approved by OPEC.
OPEC had raised Nigeria’s oil production target for March 2022 to 1.718 million barrels per day, indicating a marginal increase from the 1.701 million barrels per day target that was approved for Nigeria in February.
Nigeria missed its crude oil output target for January 2022, pumping 1.46 million barrels per day against a target of 1.683 million bpd as approved by OPEC.
This came as oil giant, Eni, announced on Tuesday that it repair work on the ruptured Ogoda/Brass 24″ oil pipeline, at Okparatubo in Nembe Local Government Area of Bayelsa State had been completed and that the force majeure declared on the 25,000 barrels per day line would be lifted this week.
There was a blast of Ogoda/Brass 24″ oil pipeline, at Okparatubo in Nembe Local Government Area of Bayelsa on March 5, 2022, which the company said was caused by a third-party interference and that it resulted in a spill.