Group express worry Over Nigeria’s low crude production

Nigeria’s Petroleum Technology Association, PETAN, expressed grave concerns over the country’s declining revenue due to its failure to ramp up crude oil production.

PETAN Chairman, Wole Ogunsanya, emphasized these concerns during a recent meeting with the Association of Energy Correspondents of Nigeria.

He stressed the urgent need to increase oil and gas production to maximize Nigeria’s economic potential. Ogunsanya highlighted PETAN’s overarching vision to ensure that all value generated within the oil industry remains in Nigeria.

He pointed out that Nigeria is currently underproducing by at least 500,000 barrels per day, resulting in significant revenue losses.

Despite acknowledging industry challenges such as funding and logistics, Ogunsanya reaffirmed PETAN’s unwavering commitment to collaborating with energy correspondents to advance shared industry objectives.

“We cannot do without you. Our message cannot resonate and cannot get across without your partnership with us.

“Essentially, we both need each other. PETAN needs you to tell that story, to sell what our vision is to help the situation we find ourselves in. We are going to support you as PETAN, as we have done in the past. I give you that assurance, we will work with you immediately,” he told the NAEC representatives.