The report said the figure showed an increase of 5,000 barrels per day when compared to the 1.233 million bpd produced averagely in the month of May 2022.
Bjarne Schieldrop, SEB analyst, said on Wednesday in no uncertain terms that the G7’s price capping proposal was a “recipe for disaster” given the current stress that the oil market is under.
Sylva’s resignation comes at a time of political transition in Nigeria, with President Muhammadu Buhari serving his final weeks in office before giving way to President-elect Bola Tinubu on May 29.
It said: “We are pleased to announce the successful restoration of ST-6 after extensive repairs, including replacement of HIP & LP steam turbine blades and Generator overhauling, in addition to the in-house inspections for Boiler and Balance of Plant.
The conglomerate saw a 7% increase in its Power investments, despite the challenges faced in the year from the issues with gas supply, off the diminished Oil & Gas production in the country in 2022.
