Nigeria's national oil company has announced multiple measures to increase production.

Nigeria's national oil company has announced multiple measures to increase production. 

Nigeria is the second-largest country in Africa in terms of proven crude oil reserves, second only to Libya. However, in recent years, affected by factors such as oil theft and pipeline damage, Nigeria's oil production has been unable to meet Pipelinethe production quota of OPEC. Recently, the Nigerian National Petroleum Corporation announced multiple measures to increase production in an effort to boost output.

On July 2nd, the Nigerian National Petroleum Corporation declared a state of emergency, hoping to produce 2 million barrels of crude oil per day without deploying new drilling platforms. To this end, the company will replace the old crude oil pipelines that have been in use for many years and formulate relevant plans to extend the service life of drilling rigs.

The chief executive officer of the Nigerian National Petroleum Corporation, Kyari, said: "We will set up a rig-sharing plan with our partners, and all relevant parties must include their own work progress in it, so that we can keep the work progress consistent."

Economists say that the oil industry is a pillar industry in Nigeria, providing about 90% of the country's foreign exchange earnings. Nigeria's oil production has been affected by oil theft. In just one week ending at the end of June, there were 256 incidents of oil theft in the oil-rich Niger Delta region. Despite efforts by all parties to combat crude oil theft and pipeline damage, oil production is still declining. OPEC's monthly oil market report for June shows that Nigeria's average daily production in May was 1.25 million barrels per day, a decrease of 2.34% from 1.28 million barrels per day in April.