…Experts Commend Tantita’s Efforts in Combatting Oil Theft
According to the latest monthly oil market report released by the Organisation of Petroleum Exporting Countries (OPEC), Nigeria’s average daily crude oil production surged to 1.28 million barrels per day in April.
This marks a notable 4.07% increase from the 1.23 million barrels per day recorded in March, representing the first month-on-month production growth this year.
With this production volume, Nigeria has reclaimed its position as Africa’s largest oil producer, with Algeria closely following in second place with an output of 907,000 barrels per day.
However, OPEC’s secondary sources reported Nigeria’s crude production slightly lower at 1.35 million barrels per day in April, indicating a 3.15% decline from March.
The report also highlighted fluctuations in crude oil output across various OPEC member countries, with production increases observed in Congo and Iran, while Nigeria, Iraq, and Venezuela experienced declines.
These findings corroborate data from the Nigerian Upstream Regulatory Commission, indicating a marginal increase in Nigeria’s crude oil production to 1.28 million barrels per day in April.
Despite this uptick, the figure fell short of the 1.78 million barrels per day target set for funding the 2024 budget, although it surpassed projections from separate Reuters and Bloomberg surveys.
Analysts attribute the increase to the diligent efforts of Tantita Security Services Nigeria Limited and other private firms contracted by the Nigerian federal government to protect the pipelines and assets in the Niger Delta region.
Speaking to GbaramatuVoice, Muhammed Musa, an expert in the oil and gas industry, emphasized the significant role played by Tantita Security Services in enhancing oil production.
He commended their efforts in the fight against oil theft and stressed the importance of recognizing their contributions to the country’s oil sector. “Tantita’s efforts are crucial,” Musa stated, underlining their dedication and effectiveness in combating illicit activities within the industry. “It’s imperative that we acknowledge the invaluable role they play in safeguarding Nigeria’s oil resources and ensuring stability in the sector.”
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