The FG urges oil companies to consolidate production to meet the OPEC quota
The Minister of State for Oil Resources, the gas chief, Ekperikpo Ekpo, urged oil and gas stakeholders on Wednesday to meet the quota approved by the organization of oil exporting countries (OPEC).
EKPO, who was represented by the permanent secretary, Mr. Emeka Obi made the appeal during the floor at the Oil and gas opportunities in Nigeria in progress (NOGOF) in Yenagoa.
“ The theme is: “Make the growth of investments and production: to shape an oil and sustainable gas industry thanks to the development of indigenous capacities’ ”
He noted that oil production of 1.4 million barrels per day in the first quarter of 2025 is lower than the quota of 1.8 million barrels approved by OPEC. The Minister said that with the country’s oil reserve and a commitment from industry players, it is possible to meet the quota.
He congratulated Nigeria Content Development and Suiving Board (NCDMB) for fair presentation opportunities for Nigerian companies. He said that the growth of Nigerian content of five percent in 2010 at 56% in 2024 was a commendable achievement. #FG urges oil companies to consolidate production to meet the OPEC #quota
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