NNPC Targets Two Million Barrels of Crude Oil Production by End of Year
The Nigerian National Petroleum Company Limited (NNPC) has announced its ambitious goal to increase crude oil production to two million barrels per day by the end of the year. 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.
Speaking at a meeting with Maritime Stakeholders at the Nigerian Navy Headquarters on Tuesday, the Group Managing Director of NNPC, Mele Kyari, expressed optimism that the target would be met, emphasizing that NNPC was fully committed to achieving it. Kyari urged security agencies to continue their efforts against oil theft and pipeline vandalism to help the company meet its target.
Kyari highlighted the significant support provided by the Nigerian Navy in reducing oil theft and pipeline vandalism, stating that the company hopes to sustain this progress to achieve its target of two million barrels per day by the end of the year.
Meanwhile, the Chief of the Naval Staff, Vice Admiral Emmanuel Ogalla, discussed the numerous complex security challenges facing Nigeria, including violent agitations, oil theft, pipeline vandalism, and piracy/sea robbery. Ogalla attributed these issues to the proliferation of small arms and light weapons, communal clashes, poverty, and unemployment.
Ogalla emphasized the need for a multi-faceted approach to address these security challenges, including the implementation of the Petroleum Industry Act. He emphasized that the Navy’s operations are designed to support businesses, rather than hinder them, and that the goal is to promote ease of doing business by providing security and protecting operators from criminal elements.
With the goal of increasing crude oil production to two million barrels per day by the end of the year, the NNPC is relying on the continued support of security agencies and stakeholders to achieve its target.
