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Achieving 3 Million Barrels of Crude Oil Per Day: NNPCL’s Ambitious Plan

The Nigerian National Petroleum Company Limited (NNPCL) has announced that it is achievable to produce 3 million barrels of crude oil per day, up from the current 1.7 million. The company’s Chief Corporate Communications Officer, Olufemi Soneye, made the declaration at a Stakeholders Engagement Session in Abuja, saying that the feat is attainable with support from all stakeholders.

According to Soneye, the political will to achieve this goal has already been provided by President Bola Tinubu, who has directed relevant security agencies to stem the tide of oil theft and pipeline vandalism. This has led to an increase in daily oil production from 1.4 million to 1.7 million barrels per day.

To achieve the ambitious target of 3 million barrels per day, Soneye emphasized the need for synergy among stakeholders, including security agencies, government, private security companies, oil companies, and host communities. “With expected synergy from all the relevant stakeholders on war against oil theft and pipeline vandalism, the required enabling environment would be in place for optimal oil production to the volume of 2.5 to 3 million barrels per day,” he said.

Soneye also highlighted the significance of the company’s collaboration with private security agencies and the military to combat oil theft. He noted that oil production had gone down to 900,000 barrels per day in the past before the involvement of these agencies, which led to a significant increase in production.

However, Murtala Muhammad, the Deputy Manager of the NNPC Command and Control Centre, warned that the crime of oil theft remains a serious concern. He reported that over 8,000 illegal refineries and 5,800 illegal oil pipeline connections were detected and destroyed within the last six months. The hotspots for oil theft were identified as Bayelsa, Rivers, Imo, and Abia states.

Professor Taiye Obateru, a resource person at the event, emphasized the importance of fairness and national interest in reporting on the oil industry. He highlighted the need for journalists to balance their reporting with the nation’s interests, ensuring that their stories are accurate and unbiased.

The NNPCL’s ambitious plan to produce 3 million barrels of crude oil per day is seen as a significant step towards increasing the country’s oil production and revenue. The company’s efforts to combat oil theft and pipeline vandalism are crucial to achieving this goal, and the cooperation of all stakeholders is necessary to ensure success.