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Nov. 25, 2024
The Nigerian National Petroleum Company Limited (NNPC Ltd) has clarified that there is no discrepancy between its crude oil production figures and those supplied by the regulatory agency, the Nigerian Upstream Petroleum Regulatory Company (NUPRC).
The Company gave the clarification in a statement on Monday, against the backdrop of reports in some sections of the media that the 1.54 million barrels per day for September cited by the NUPRC was far below the one point eight million (1.8 m) barrels per day for November cited by the NNPC Ltd.
According to the sttement by Olufemi Soneye, Spokesperson of the NNPC Ltd, he said the seeming disparity is as a result of the difference in the period of coverage in the reports stressing that whereas the NNPC Ltd.’s figure was the peak production for October 2024, the NUPRC’s figure was the average production for September 2024.
This fact was confirmed by the Chief Executive Officer of NUPRC, Gbenga Komolafe, at the recent 42nd Nigerian Association of Petroleum Explorationists Annual International Conference and Exhibition in Lagos where he disclosed that Nigeria’s crude oil output, including condensate, increased by 16.56 per cent to 1.8million barrels per day in October 2024, from 1.54 million barrels per day in September 2024.
There is, therefore, no disparity or discrepancy in the production figures by NNPC Ltd and the regulator. NNPC Ltd the statement adds is working closely with relevant stakeholders to boost production to two million barrels per day and above by the end of 2024.
