In a significant boost to its oil output, Nigeria’s state oil firm, the Nigerian National Petroleum Corporation (NNPC), announced on Thursday that it has increased oil production to 1.8 million barrels per day (bpd). This marks a substantial rise from the 1.3 million bpd recorded in October, as reported by the Organisation of the Petroleum Exporting Countries (OPEC).
The NNPC attributed this increase to collaborative efforts with joint venture operators, production-sharing contract partners, security agencies, and the government. “The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders,” said NNPC CEO Mele Kyari during a press briefing.
Nigeria has faced significant challenges in its oil production, including crude theft, sabotage, and local unrest in the Niger Delta region. To combat these issues, the NNPC established a ‘war room’ in June to coordinate efforts among oil partners, government agencies, and private security personnel. This initiative has led to the destruction of several vessels used for stealing crude and the arrest of illegal refiners.
Kyari emphasised the importance of these interventions, stating, “The interventions across every segment of the production chain, supported by rigorous pipeline monitoring from security agencies, have been critical to the recovery”.
Looking ahead, the NNPC is optimistic about further increasing production. Kyari mentioned the possibility of reaching two million bpd by the end of the year, highlighting the ongoing efforts to stabilise and enhance Nigeria’s oil output.
