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Sunday, September 29, 2024

Tinubu’s directive boosted oil production to 1.7 million bpd; three million bpd achievable, says NNPC

He said Mr Tinubu’s directives to relevant security agencies have yielded positive results, with daily oil production rising from 1.4 million to 1.7 million barrels.

• September 29, 2024
Bola Ahmed Tinubu
Bola Ahmed Tinubu [Credit: Tinubu ]

The Nigerian National Petroleum Company Limited (NNPCL) is confident it can increase crude oil production from 1.7 million barrels per day to three million, says chief corporate communications officer Olufemi Soneye.

Speaking in Abuja on Saturday, at a stakeholders engagement session with National Assembly journalists, Mr Soneye emphasised that achieving this goal required support from all stakeholders, including security agencies, government, privately-owned oil companies, and host communities.

He said President Bola Tinubu’s directives to relevant security agencies have yielded positive results, with daily oil production rising from 1.4 million to 1.7 million barrels.

Mr Soneye noted that synergy among stakeholders was crucial in combating oil theft and pipeline vandalism, which would create an enabling environment for optimal oil production of 2.5 to three million barrels per day.

He said previously oil production had plummeted to 900,000 barrels per day before private security agencies and military interventions.

Mr Soneye expressed relief that the intensified efforts against oil theft have alleviated concerns.

Also speaking, Murtala Muhammad, deputy manager of the NNPC Command and Control Centre, highlighted that oil theft remains a serious concern.

“Over 8,000 illegal refineries and 5,800 illegal oil pipeline connections were detected and destroyed within six months, primarily in Bayelsa, Rivers, Imo, and Abia,” said Mr Muhammad.

A resource person at the event, Taiye Obateru, stressed the importance of balanced and fair reporting in nation-building, urging journalists to avoid spreading misinformation that could spark societal crises.

(NAN)

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