Nigeria produced 32.70bn barrels of oil valued at N118.49tn over 47yrs – NBS


The National Bureau of Statistics (NBS) has disclosed that petroleum statistics on crude oil production and refining reflected that a total of 32.70 billion barrels of crude oil valued at N118.49 trillion were produced between 1961 and 2014, a period of 47 years, THISDAY reports.

The highest barrels of crude production was recorded in 2005 with 918.66 million barrels valued at N6.14 billion, while the lowest was recorded in 1961 with 16.80 million barrels valued at N18.73 million.

The NBS in its “Petroleum Statistics: Crude Oil Production (Volume and Value) and Oil Refining (1961-2014),” stated that the yearly domestic crude oil refining data from 1997 to 2014 also reflected that 844.19 million barrels of crude oil had been received and 835.58 million processed within the period under review.