NNPC Aims for Daily Oil Production of Two Million Barrels

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The Nigerian National Petroleum Company Limited (NNPC) has set an ambitious target to elevate its crude oil production to two million barrels per day by the end of 2024.

This announcement follows a notable increase in production, which rose from 1.27 million barrels per day in June to 1.6 million in July, as reported by the Nigerian Upstream Petroleum Regulatory Commission.

During a recent meeting with maritime stakeholders at the Nigerian Navy Headquarters, Mele Kyari, the Group Managing Director of NNPC, expressed confidence in achieving this goal.

He emphasized the company's commitment to this target and acknowledged the crucial role of security agencies in combating oil theft and pipeline vandalism, which have historically hindered production efforts.

Kyari stated, “The target is to increase production to two million barrels by the end of the year, and we are fully committed to doing that. I appreciate the support of the Nigerian Navy in making this possible.”

He noted that the Nigerian Navy's efforts have significantly contributed to reducing incidents of oil theft and vandalism, allowing for a more stable production environment.

Vice Admiral Emmanuel Ogalla, Chief of the Naval Staff, highlighted the complex security challenges Nigeria has faced, including oil theft and piracy, which have been exacerbated by factors such as poverty and unemployment.

He pointed out that traditional methods of addressing these issues have often fallen short, necessitating a collaborative approach among stakeholders.

Ogalla remarked, “Providing security is a way to promote ease of doing business because if there is no security, operators cannot function.”

He assured that the Navy is committed to ensuring that its operations support legitimate business activities and do not disrupt the oil production process.

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