Tuesday, September 9, 2025
23.5 C
Lagos

NNPC Announces 1.8mbpd Production, Eyes 2mbpd by Year End

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri speaks during a media briefing to announce the 1.8mbopd crude oil production milestone at the NNPC Towers in Abuja, on Thursday. The Minister is flanked to his right by the Chairman, NNPC Board, Chief Pius Akinyelure and to his left, by the GCEO, NNPC Limited, Mr. Mele Kyari.

The Nigerian National Petroleum Company Limited (NNPC) and its partners have revved up crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4standard cubic feet per day (scfd).

The company which announced this at a press briefing on Thursday said the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.

Speaking on the development, the Group Chief Executive Officer, Mr. Mele Kyari, congratulated the Production War Room Team that anchored the production recovery process.

“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 based on the mandates that we have from the President, the Honourable Minister, and the Board,” Kyari explained.

Giving details of the efforts of the Production War Room, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa, disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.

He said the interventions that led to the recovery of production cut across every segment of the production chain with security agencies closely monitoring the pipelines.

He stressed that when the Production War Room team was inaugurated on June 25, 2024, production was at 1.430mbpd, but the team swung into action, culminating into it sustaining the production recovery to 1.7mbpd in August and hitting the current 1.808mbpd in November.

“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2mbpd by the end of the year,” he stated.

Also speaking on the development, Chairman of the NNPC Limited Board of Directors, Chief Pius Akinyelure, who also congratulated the team, said he was happy to be part of the production recovery process, adding: “today, I will leave this place with my heart full of joy.”

He charged the Company’s Management to come up with a cashflow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3mbpd.

On his part, the Honourable Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, expressed satisfaction with the performance of the team and pledged the Federal Government’s support for the company to do more.

spot_img
spot_img

Hot this week

Nigeria, Brazil Central Banks Deepen Economic, Financial Co-operation

Nigeria’s Central Bank Governor, Olayemi Cardoso, has held talks...

Ecobank Nigeria to Host Second Edition of Design & Build, Showcasing Premier Innovators in Design, Construction

Ecobank Nigeria, a subsidiary of the leading pan-African banking...

Expert: Fintech, Financial Inclusion Critical for Sustainable Growth of Nigerian Economy

A renowned economist, Dr. Biodun Adedipe, the Chief Consultant/CEO,...

Sterling Bank Marks One Year of Africa’s Groundbreaking Core Banking System

Number one Best Workplace in Banking in Nigeria and...

Topics

Babacar Ndiaye: Emotional Tribute From African Development Bank

Babacar Ndiaye, the Bank Group's fifth elected President, who...

Dell Expands Open Networking Software Range with New Dell OS10

Dell has extended its reach in Open Networking with...

Stanbic IBTC: ‘Youths Need Strategic Engagement, Empowerment for Productivity’

Determined to further strengthen the strategic position...

TRENDS IN TALENT ACQUISITION FOR 2020

The hiring market has changed dramatically over the last...

Osinbajo Pledges Slots for Editors on NIPSS Course

The Nigerian Guild of Editors (NGE), the umbrella professional organisation...

NIMC Partners RH-NHGSF to Deliver Effective School Feeding Program

In alignment with the Renewed Hope Mandate of President...

How to Influence people with new fashion trends

Elementum nulla turpis cursus. Integer liberos kusto euismod aene pretium faucibus ...

‘Africa Has GDP of $3.4 tr,1bn Population’

Equatorial Guinea will host the African Development Bank’s next...
spot_img

Related Articles

Popular Categories

spot_imgspot_img