The Nigerian National Petroleum Company Limited (NNPCL) 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 national oil company made the clarification against the backdrop of reports in a section of the media that the 1.54 million barrels per day (mbpd) for September cited by the NUPRC was far below the 1.8mbpd for November cited by the NNPCL.
The clarification was contained in a press release by the NNPCL Chief Corporate Communications Officer, Olufemi Soneye, on Monday.
“The seeming disparity is as a result of the difference in the period of coverage in the reports whereas the NNPCL’s figure was the peak production for October 2024, the NUPRC’s figure was the average production for September 2024,” the Chief Executive Officer (CEO) of NUPRC, Mr Gbenga Komolafe, stated.
Komolafe spoke at the recent 42nd Nigerian Association of Petroleum Explorationists Annual International Conference & Exhibition in Lagos.
He disclosed that Nigeria’s crude oil output, including condensate, increased by 16.56 per cent to 1.8mbpd million in October 2024, from 1.54 million bpd in September, 2024.
The CEO of NUPRC was represented by the Executive Commissioner, Development & Production, Mr. Enorense Amadasu.
He was quoted as saying: “This represents an increase of 253,710, bpd to reach 1.8 million bpd in October, up from 1.54 million bpd in September 2024, representing 16.56 per cent month- on-month rise.”
The NUPRC also confirmed at the NAPE event that the 1.8mbpd feat pushed Nigeria’s production beyond the 1.5mbpd quota of the Organisation of Petroleum Exporting Countries (OPEC).
“There is, therefore, no disparity or discrepancy in the production figures by NNPCL and the regulator.
“NNPCL is working closely with relevant stakeholders to boost production to 2mbpd and above by the end of 2024,” it was further stated in the release.
