Search

Nigeria Aims for 40,000 bpd Crude Oil Production Boost with New FPSO

Allen dreyfus Logo
© Allen Dreyfus
  • The project is expected to raise Nigeria’s output amidst ongoing challenges.
  • Analysts urge the government to address oil theft, insecurity, and falling investments.

Lagos, Nigeria – Nigeria is targeting a 40,000 barrels per day (bpd) increase in crude oil production with the construction of a new Floating Production Storage and Offloading (FPSO) facility in Lagos. The FPSO is a joint venture between the Nigerian National Petroleum Company Limited (NNPCL), Century Nigeria Limited, West African Exploration and Production Company, and NNPC Energy Services Limited.

You need an active subscription to continue reading this article.

Recent Business

Breaking News
Senegal slashes oil revenue forecast by 60% through 2028
Read More »
solen-feyissa-gXoxL_CYTuE-unsplash
Ethiopia holds rate at 15% as inflation slows, fiscal outlook improves
Read More »
Allen dreyfus Logo
Elombi steps into Afreximbank leadership amid mounting regional debt pressure
Read More »

Recent Politics

Allen dreyfus Logo
Elombi steps into Afreximbank leadership amid mounting regional debt pressure
Read More »
edouard-tamba-oTrwlvPvpVo-unsplash
Northern defections rattle Biya’s rule ahead of Cameroon’s October election
Read More »
bernd-dittrich-yfQfmji31fY-unsplash
Afreximbank warns of trade risks and openings as global fault lines shift
Read More »

Latest Posts

Latest news insights