Adedokun Waliyu 
The Nigerian National Petroleum Corporation (NNPC) has reported that Nigeria may stop creation of unrefined petroleum if the costs of raw petroleum in the worldwide market keeps on falling reliably.
Brent, the benchmark against which Nigeria’s oil grades are estimated, plunged by $6.34 to $19.23 per barrel on Tuesday in the midst of falling interest and an exceptional overabundance in the worldwide market that is making stockpiling top off rapidly.
Kennie Obateru, the Group General Manager, Group Public Affairs Department, NNPC said Wednesday that despite the fact that Nigeria had not halted oil creation, there was a chance it could.
“On the off chance that the circumstance perseveres, it is something that will undoubtedly happen unquestionably.
“We can’t continue delivering if there is no market to offer to. Furthermore, it isn’t something that is impossible to miss to Nigeria. It is a worldwide thing.
“In any case, it has not occurred. For as much as I probably am aware and up till toward the beginning of today, nothing of such has occurred.”
The NNPC top official noticed that partners needed to choose before in transit forward before a stop underway could occur.
“We should be certain and trust that things improve. In any case, once more, if the circumstance continues, certainly I figure it will end up like that.
“In any case, on the off chance that it is being thought of, at that point they should work out the modalities and subtleties. However, I can disclose to you that it (creation end) has not occurred,” Mr Obateru said.
He expressed that stopping oil creation couldn’t be completed without sufficient planning, including that unrefined petroleum wells produce the gas Nigeria utilizes for power age.
Obateru prescribed that the nation consider how to get the best out of Nigeria’s trouble in discovering purchasers for its rough.
Prior this month, Mele Kyari, the NNPC boss expressed that Nigerian oil grades were not dismissed despite the fact that they were abandoned in the market.
Kyari said the 50 cargoes of Nigerian rough that were abandoned in March had decreased in number.
“I am glad to report that that number has gone down significantly. I don’t have the specific number for now, yet it is currently under 20.”
Drumonline reported on Wednesday that at least three dozen cargoes of April and May-loading Nigerian crude, which are unlikely to be absorbed by the refining systems of oil majors, were striving to attract buyers on Tuesday ahead of the imminent June programmes.
Government had in March investigated its benchmark during the current year’s spending limit descending from $57 per barrel to $30.
