Post-amnesty oil output hits 2.4mbpd – The Guardian
November 16, 2009 by Bunmi Awolusi
The Amnesty programme may have begun to yield fruit as Nigeria’s oil production has reached a record 2.4 million barrels per day (mbpd), the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Mohammed Barkindo, said at the weekend.
Also, the Minister of Niger Delta Affairs, Chief Ufot Ekaette, has said that the Federal Government’s new agenda for the area would lead to lasting peace and development in the region.
But, worried by the non-profit returns in the Joint Venture Cash-call (JVC) investment between the government and the oil majors in the exploration of crude oil, the Federation Accounts Allocation and Fiscal Committee (FAAC), which superintends over federally generated revenue, has demanded explanations from the NNPC over the necessity for the continued participation.
