Crude oil production in Nigeria has increased by about two-point-six million barrels in the month of November this year.
The Organisation of Petroleum Exporting Countries announced that Nigeria’s crude oil production rose by eighty-five thousand barrels to one million, four hundred and twenty-thousand barrels per day.
The figure is against one million, three hundred and thirty-five thousand barrels that were produced daily in the month of October.
The details were contained in the OPEC’s Monthly Oil Market Report for December.
The Federal Government says it recorded a loss of two hundred-and-thirty-five- billion-dollar worth of investments in the oil and gas sector due to the delay in the passage of the Petroleum Industry Bill.
The Minister of State for Petroleum Resources, Timipre Sylva, said investigations show that the country lost about fifteen-billion-dollar yearly during the period covering about twenty years.
The information was presented in an address to the Nigerian Gas Association Business Forum and Annual General Meeting.
The Minister, who was represented by his Technical Adviser, Justice Derefaka, said the delay slowed down the growth of Nigeria’s petroleum industry.