NNPC Restores Oil Production After Resolving Industrial Action

NNPC Restores Oil Production After Resolving Industrial Action

Nigeria’s state oil firm, NNPC, announced  the restoration of 275,000 barrels per day (bbl/d) of oil production at its joint venture unit with Total Energies, following the negotiations to end industrial action by workers.

The agreement to suspend the action was signed between French TotalEnergies, the Petroleum and Natural Gas Senior Staff Association, and the Nigerian Union of Petroleum, which represent senior and junior workers in the industry.

“The unions have agreed to suspend ongoing industrial action leading to immediate restoration of 275,000 barrels of oil per day production,” NNPC said.

This action boosted Nigeria’s oil output, which stood at 1.49 million bbl/d in October, according to data from the petroleum regulator; however, it is still below the 1.69 million bbl/d set in the 2023 budget.

Nigeria, as Africa’s largest oil producer, faces various challenges in its oil sector. Crude theft, illegal refining, and a lack of investment have hindered production output, which has remained below its OPEC quota of 1.74 million bpd.




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