NNPC Clears Air On Nigeria’s Crude Oil Output Figures

3 months ago
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        Mohammed Shosanya

 

The Nigerian National Petroleum Company Limited (NNPC Ltd)says  there is no discrepancy between its crude oil production figures and those supplied by the regulatory agency, the Nigerian Upstream Petroleum Regulatory Company (NUPRC).

 

 

 

 

The clarification was sequel to reports  that the 1.54 million barrels per day (mbpd) for September cited by the NUPRC was far below the 1.8mbpd for November cited by the NNPC Limited.

 

 

 

 

The seeming disparity is as a result of the difference in the period of coverage in the reports – whereas the NNPC Ltd’s figure was the peak production for October 2024, the NUPRC’s figure was the average production for September 2024,Olufemi O Soneye,  Chief Corporate Communications Officer NNPC Ltd.,said in a statement.

 

 

 

This was confirmed by the Chief Executive Officer of NUPRC, Mr. Gbenga Komolafe, at the recent 42nd Nigerian Association of Petroleum Explorationists Annual International Conference & Exhibition in Lagos where he disclosed that Nigeria’s crude oil output, including condensate, increased by 16.56 per cent to 1.8mbpd million in October 2024, from 1.54 million bpd in September 2024.

 

 

 

The CEO of NUPRC,who was represented by the Executive Commissioner,Development & Production, Mr. Enorense Amadasu, was quoted as saying:”This represents an increase of 253,710, bpd to reach 1.8 million bpd in October, up from 1.54 million bpd in September 2024, representing 16.56 per cent month on-month rise”. 

 

 

 

The NUPRC also confirmed at the NAPE event that the 1.8mbpd feat pushed Nigeria’s production beyond the 1.5mbpd quota of the Organisation of Petroleum Exporting Countries (OPEC).

 

 

 

He maintained that there is no disparity or discrepancy in the production figures by NNPC Ltd and the regulator,adding that his company is working closely with relevant stakeholders to boost production to 2mbpd and above by the end of 2024.

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