Nigerian crude output to hit 1.8m barrels by December
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“Mr President gave us a clear mandate to ramp up crude output to at least two million barrels per day by 2027, and three million by 2030,”
The Nigerian National Petroleum Company Limited (NNPCL) says crude production is rising and on course to hit 1.8 million barrels per day before the end of the year, marking a potential turning point for the country’s struggling energy sector.
The Group Chief Executive Officer of NNPCL Bashir Ojulari, gave the update on Sunday evening after briefing President Bola Tinubu at the State House in Abuja.
Speaking to reporters, Ojulari said production had already climbed to 1.68 million barrels per day in September, the highest output in five years, with gas production also reaching record levels of over seven billion cubic feet per day.
“Mr President gave us a clear mandate to ramp up crude output to at least two million barrels per day by 2027, and three million by 2030,” Ojulari said, adding that recent maintenance work completed in August and September had boosted capacity.
“With those upgrades, we expect to reach 1.8 million barrels daily by year-end, assuming no major disruptions,” he said.
Strike Disrupted Output, Power Supply
Ojulari also addressed recent industrial action involving the Petroleum and Natural Gas Senior Staff Association of Nigeria and the Dangote Petroleum Refinery, which he said had caused a deferment of more than 200,000 barrels per day in production and disrupted around 1,200 megawatts of electricity generation.
He credited the intervention of Labour Minister Muhammad Dingyadi and National Security Adviser Nuhu Ribadu for resolving the dispute swiftly, noting that most of the lost output had since been recovered.
Gas Price Spike ‘Artificial’
On recent complaints over surging cooking gas prices, the NNPCL chief described the situation as temporary and “relatively artificial”, blaming short-term supply chain issues linked to the strike.
“There were delays in loading and distribution for two to three days, which some market players exploited,” he said. “Now that things have stabilised, we expect prices to return to normal levels shortly.”
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