Amid domestic supply challenges, Nigerian National Petroleum Company Limited (NNPCL) has announced plans to increase crude oil production to two million barrels per day by the end of the year
The Group Chief Executive Officer of NNPCL, Mele Kyari disclosed this on Tuesday, 30 July, 2024 in an event with Maritime stakeholders at the Nigerian Navy Headquarters.
Kyari expressed optimism that the target would be met, emphasizing that NNPC was fully committed to achieving it.
Represented by the Managing Director of Pipeline, NNPCL, Folorunsho Karim, the oil firm’s boss urged security agencies to continue their efforts against oil theft and pipeline vandalism to help the company meet its target.
“The target is to increase production to two million barrels by the end of the year, and we are fully committed to doing that. I appreciate the support of the Nigerian Navy in making this possible”, he said.
This comes amid the recent order by President Bola Ahmed Tinubu to NNPCL on the sale of crude oil to Dangote Refinery and other local refineries in Naira.
The government had said this would put an end to the pressure on the country’s foreign exchange demand for imports.
Meanwhile, oil and gas experts said it would be difficult for NNPCL to meet supply obligations to Dangote Refinery.
According to the Nigerian Upstream Petroleum Regulatory Commission, the country’s daily production rose from 1.27 million barrels in June to 1.6 million in July.
