NNPC Opens Up as OPEC Data Disputes Tinubu’s 1.6m Barrel Per Day Oil Production Claim
- The Nigerian National Petroleum Company claims that there has been a notable improvement in Nigeria's crude oil production
- It credited ongoing military operations against pipeline damage and oil theft for this development
- According to data from OPEC, Nigeria produced 1.386 million barrels of oil on average every day
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
Nigeria's crude oil output has significantly improved, according to the Nigerian National Petroleum Company (NNPC) Limited, which attributes this development to continuous military operations against oil theft and pipeline damage.
Source: Getty Images
The group chief executive officer of NNPC, Mele Kyari, made this known when he received the Chief of Defence Staff, Gen. Christopher Musa, in an audience on Tuesday, August 13. Musa led senior military officers on a courtesy visit to the NNPC Towers in Abuja.
Additionally, Kyari urged the military to continue the fight against pipeline vandalism and crude oil theft, pointing out that the nation's crude oil production has increased as a result of the ongoing offensive against these threats.
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This is as Nigeria's average daily oil production reached 1.386 million barrels per day, thanks to a 930,000 barrel increase in crude output, according to data from the Organization of Petroleum Exporting Countries (OPEC).
“I personally call for enhanced and sustained security engagement. This is because we have reached a new peak in production that we haven’t seen in the last three years.
"This is clearly related to the sustained efforts by the armed forces and other security agencies to protect our critical assets, particularly the pipeline infrastructure in specified areas where we are working closely with these agencies.
"We are already seeing the results transforming into increased production,” Kyari said in a statement by the company’s spokesman, Olufemi Soneye.
NNPC commends military
The GCEO, who commended General Musa and his team for their unwavering commitment to securing the nation’s critical hydrocarbon assets especially in the Niger Delta region in recent months, emphasised that these achievements are not only crucial to Nigeria but also to the global energy community.
He expressed confidence that the CDS and his team will deliver on the Presidential mandate to mitigate security-related challenges affecting the nation’s crude oil production.
“Components of this effort that depend on security are being effectively managed by you. Your coordinated and focused response is paving the way for improved security engagement, particularly in the Niger Delta,” he said.
Earlier in his remarks, Gen Musa said the visit was intended to introduce the Monitoring Team to the NNPC Ltd, which will be responsible for interfacing with the Company and other stakeholders in the oil-producing regions to secure the nation’s critical hydrocarbon infrastructure.
He emphasized that increased production is necessary for a thriving economy and promised improved performance through cooperation with state governments, private security firms, intelligence agencies, and host communities.
Tinubu lied about Nigeria producing 1.6mbpd
Legit.ng reported that President Bola Tinubu's recent remark regarding Nigeria's oil production levels has been called into question by the Organization of the Petroleum Exporting Countries (OPEC), sparking a dispute in the energy sector.
Recall that following years of setbacks, President Tinubu said on August 4, 2024, that Nigeria's oil output had increased to 1.6 million barrels per day (bpd), indicating a major recovery in the industry.
The administration hailed this assertion as a significant accomplishment, emphasising a favourable turnabout for Nigeria's economy, which is primarily dependent on oil exports.
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Source: Legit.ng
