The petroleum statistics on crude oil production and oil refining reflected that a total 32.70bn barrel of crude oil valued at N118.49trn has been produced between 1961 and 2014. The highest barrels of crude production was recorded in the year 2005 with 918.66m barrels valued at N6.14bn while the lowest was recorded in 1961 with 16.80m barrels valued at N18.73mln.

The yearly domestic crude oil refining data from 1997 to 2014 also reflected that 844.19m of crude oil has been received and 835.58m processed within the period under review.

Date source: National Bureau of Statistics

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