NNPC signals increase in gas reserves

ABUJA, December 27, 2016 – In his year-end address to Nigeria National Petroleum Corporation staff, Group Managing Director Maikanti Baru on Monday said the country’s gas reserves had increased.

According to Baru, Nigeria boasts oil reserves of some 37 billion barrels, a figure in line with the volume given in the 2016 BP Statistical Review of World Energy, 37.1 billion barrels. BP puts the country’s gas reserves at 5.1 tcf (180.5 tcf). However, in his speech, Baru said the relative tranquillity across the Niger Delta had contributed to in increase in reserves to 5.4 tcm (192 tcf). If accurate, these updated figures would mark an increase of some 6%.

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