The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday said in November 2024, the country accomplished 99.04 per cent of its Organization of Petroleum Exporting Countries (OPEC) crude oil production quota of 1.5million barrels per day.
According to the commission’s November “Crude Oil Production 2024,” which The Nation obtained, in the review month, Nigeria hit 1.48mb/d of crude oil output.
The document said the country produced 204,828b/d condensate totally 1.69mb/d of crude oil and condensate in the month under review.
Recall that in October 2024, the crude oil and condensate output was 1.53mb/d.
The Nigerian National Petroleum Company Limited (NNPCL) had on November 14, announced the achievement of 1.8million barrels per day production of crude oil and condensate.
The company attributed the feat to the dedication of its team work in the last weeks.
Owing to the announcement of the achievement, its board chairman, Chief Pius Akinyelure yesterday charged the firm to hit 3mb/d in December 2024.
Group Chief Executive Officer (GCEO), Malam Mele Kyari had directed the Production War Room Officer, Mr. Lawal Musa to present the data of the feat at the press briefing in Abuja.
Musa said “congratulations on exceeding 1.8mbopd ! This accomplishment reflects the dedication of all teams over the past weeks. Moving forward let’s build on this momentum and push towards our 2 MB/d by year end.”
Read Also: FG backs cold storage initiative to boost food security
He said the NNPCL contributed 80 per cent of the production figure.
Kyari extolled the War Room team that recovered the nation’s oil production from its low level of 21st June, 2024.
He said that NNPCL will not only recover production, it will raise it to the expected level.
He said President Ahmed Tinubu has mandated the company to raise production to a level that is acceptable to the shareholders in the short and long term.
Kyari insisted that it is possible to attain the 2mb/d with the support of the board, ministers, and security agencies.
Responding, Akinyelure commended the management team of the NNPCL on increasing production to 1.8mb/d.
He said he was elated due to the economic impact the production would have on the company’s cash flow of operating income from now to year end.
Akinyelure urged the state-owned oil firm to consider the 1.8mb/d as a base of the landmarks it should improve on.