Crude oil production erratic since February – NNPC

Crude oil production in the country has been inconsistent since February this year, the Nigerian National Petroleum Corporation has said.

According to the corporation, the country’s production has been fluctuating between 2.2 million barrels per day and 2.3mbpd.

The Group Managing Director, NNPC, Andrew Yakubu, said the development was largely caused by the persistent attacks on major pipeline arteries supplying crude oil to export terminals, stressing that the menace had impacted negatively on the nation’s economy.

The NNPC boss, in a statement from the corporation, said these in his submission to the Senate and House of Representatives Joint Committee on the Medium Term Expenditure Framework for the period of 2014 to 2016.

Yakubu explained that the continuous crude oil theft, pipeline vandalism and shut-in had constrained the sector from meeting its revenue projection.