The Nigerian National Petroleum Company Limited (NNPCL) is poised to increase the nation’s oil production to 1.8 million barrels per day by the end of the year, according to Group Chief Executive Officer Bayo Ojulari. Ojulari made this statement after a meeting with President Bola Tinubu in Lagos, where he briefed the President on the company’s activities since his appointment in April.
The NNPCL boss attributed the anticipated increase in production to the completion of turnaround maintenance in August and September, which is expected to come online this month. He expressed optimism that the company would meet its target, stating, “We are hoping that before the end of the year, we should be clocking at least 1.8 million barrels per day.”
However, the recent strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over the alleged sacking of Nigerian workers by Dangote Refinery had a significant impact on the nation’s oil production. The strike, which lasted for five days, resulted in the loss of over 200,000 barrels per day production, as well as deferred gas production and power generation.
The Federal Government’s intervention, led by the National Security Adviser, Nuhu Ribadu, helped to resolve the dispute between Dangote Refinery and PENGASSAN. The refinery agreed to redeploy the sacked workers, and the union suspended its strike. Ojulari commended the government’s intervention, stating that it was a positive move for the economy.
The NNPCL boss noted that the company has gradually restored the lost production and is working to catch up on deferred production. The increase in oil production is expected to have a positive impact on the nation’s economy, and the NNPCL is working to ensure that it meets its target by the end of the year. With the resolution of the dispute between Dangote Refinery and PENGASSAN, the company is poised to move forward and achieve its goals.
