https://www.youtube.com/watch?v=HF_75xeTCJA

NNPC: How We Raised Crude Oil Production from 900,000bpd to 1.6mbpd

The Nigerian National Petroleum Company (NNPC) Limited yesterday reaffirmed that with the return of Forcados and partial restoration of the Trans Niger Pipeline (TNP), Nigeria’s oil production had hit 1.6 million barrels per day (mbpd).

NNPC explained how the national oil company was able to ramp up crude oil production, which had fallen significantly, with the collaboration of the security agencies, regulators, oil producing communities, and other stakeholders.

Speaking on Arise News Channel, THISDAY’s broadcast arm, Chief Upstream Investment Officer of the NNPC Upstream Investment Management Services (NUIMS), Bala Wunti, also clarified the much-reported 700,000 barrels per day losses incurred by the national oil firm.

Wunti explained that based on all the calculations, Nigeria was losing, on the average, over 700,000 barrels per day. He explained that in hydrocarbons accounting, the figure included engineering losses, oil theft, as well as what would have been produced due to shutdowns, which he described as opportunity losses.

Before the recent recovery, he stated that Nigeria was losing about 21 million barrels per month and up to $1.9 billion every 30 days.

“If you take an average oil price of $90, that will translate to somewhere in the neighbourhood of $1.9 billion losses that we suffered,” he said.

Wunti stated that at least 68 vessels had been impounded since the renewed fight against crude oil theft, saying some of the culprits are being prosecuted by the appropriate authorities.

He said the collaboration between the security agencies, local community contractors, and NNPC led to the return of Forcados, while Brass and Bonny, which were shut down due to force majeure, were expected to begin operation soon.

He pointed out that while the Trans Niger Pipeline (TNP) was yet to fully return, it had now been partially restored, leading to the increase in reported production figures.

“Forcados is back, Bonny will soon be back,” he assured.

Before now, Wunti stated that the industry was using technology sub-optimally, which made it very difficult to have an end-to-end visibility of NNPC’s infrastructure.

Wunti stated that there was currently about 350,000 bpd to 400,000 bpd augmentation to the volume being produced hitherto, adding that Nigeria drills about 1.6 million bpd currently.

According to him, NNPC now has the capability to see its assets fully from end-to-end, and about 70 per cent of identified illegal refineries have been deactivated.

“It is just mind-boggling what we have discovered and we could see the level of sophistication where illegal connections were put on our trunk lines,” he stated, describing it as a very complex situation.

He stated that there were several layers of security protecting the country’s oil infrastructure, explaining that every level is now monitored by other levels to check underhand dealings.

The reduction in production had cut the contribution of foreign exchange earnings from crude oil export from 90 per cent, when production was high, to 78.5 per cent as of the third quarter of 2022, THISDAY learnt.

As crude theft increased, the federal government and some private security groups, including Tantita Securities Service, owned by Government Ekpemupolo, also known as Tompolo, Pipeline Infrastructure Nigeria Limited (PINL), and Maton Engineering Limited, were contracted by the government.

Wunti stated, “The new security architecture relies on technology. What it does is to bring together the security and intelligence agencies on one table, the regulators on the other, and then bring in the community into the other angle and without the community, we can’t achieve that.

“Today, we are able to detect and we able to respond. The success that we recorded is essential because of this improved security situation. We are now almost at an average of 350,000 to 400,000 bpd increase. At a certain level we recorded up to 450,000 bpd increase.

“That is why you can see we are now from 1.1 million bpd daily to about 1.59 million bpd as at this morning (yesterday). So, these are some of the things that we are able to record based on the new security architecture.”

He assured that the collective resolve of private and government securities would lead to further improvement in crude oil production, which would, in turn, reflect in foreign exchange earnings by the country.

According to him currently, about 638 illegal refineries, out of 763, have been destroyed, even as the security architecture is being institutionalised.

Wunti said, “We have incapacitated almost about 70 per cent of what we have identified and we will keep identifying some of them. It is mind-boggling what we discovered even as operators and every one of us saw the kind of sophistication, where illegal connections are put on every major trunk line, including direct export lines on Forcados.

“It couldn’t have been possible without the collective resolve of the private security guards anchored by the communities. We have short to medium and long term visibility. I can tell you we have succeeded to an extent to stop this menace.

“The question now is how to stop its growth. That is why we introduced checking the checker. What that means is that we have four layers of visibility.”

Wunti also said persons arrested in connection with the criminal oil theft and bunkering activities were currently being prosecuted. He said in due course, their identities would be disclosed to the surprise of Nigerians.

https://www.google.com/amp/s/www.thisdaylive.com/index.php/2022/12/08/nnpc-how-we-raised-crude-oil-production-from-900000bpd-to-1-6mbpd/amp/

And yet there's fuel scarcity right now in different parts of the country.


This government is a big joke.

Affliction will not rise the second time, vote Peter Obi for president

God bless Peter Obi.

If not for Peter Obi, we will still be producing zero oil in this country and yet vessels will be selling Nigerian crude in Europe and America.

This is gigantic lie, APC and buhari should be ashamed of themselves

Bull sheet.....
All we really need is Peter Obi

Please don't fail to contact me for your academic assignments, chat up on WhatsApp- see number on my signature

The Obidients are truly what ffk said they are. Read some of their comments above.

The truth is that of all the filthy maggots that crawled out of the political sewer in the last 62 years, the most fickle, ignorant, naive, gullible, rude, fraudulent, crooked, fascistic, disrespectful, vain, uncouth & deluded are those asinine & dumb little imbeciles that call themselves Obidients

They always hate or doubt good news about the country yet they're projecting a renowned failure to govern this country they disdained. Mba!

Wow

ff

God1000:
And yet there's fuel scarcity right now in different parts of the country.


This government is a big joke.

Affliction will not rise the second time, vote Peter Obi for president

Abeg no vex, for una area na crude oil Dem dey sell for filling station? because this your statement no just make at all

Peter Obi is not yet president but his action is already bearing fruit. Just one high held secret he leaked wicked politicians began to compose themselves immediately.

All of a sudden 4KM long pipeline used to steal crude oil was discovered which till today we don't know those responsible.

This makes me have a strong belief that if Peter Obi becomes president the security situation of this country will change for good. He has done it before (Anambra) so I belief he will do it again.

Vote wisely Nigerians come 2023!
Vote Obi-Datti's Labour Party

God1000:
And yet there's fuel scarcity right now in different parts of the country.


This government is a big joke.

Affliction will not rise the second time, vote Peter Obi for president

crude oil and petrol are they the same thing

And?

What does it translate to? The thieves are getting richer while the masses suffer. Throughout this year we have had national fuel scarcity on more than 4 different occasions. Prices rose up more than 3x.
We shall deliver ourselves from this government!


Remember to use KONFAM escrow services for all your transaction to avoid had I known. Konfam dot NG

Merlin9998:
Bull sheet.....
All we really need is Peter Obi

Peter Obi is needed to make Nigeria functional

Yet we no feel the impact. Mtcheeeeeeew





Enter bike if you reach junction call me l will come and give the bike man money☹️�
Rest u say no.....ngwa see am now� the biker and the bikeeee don dey sleep�

Yet they're still broke

We still borrowed to fund budgets

The next government should shade more light in nnpc we go catch plenty thief

But zero allocation to CBN

Yet we are told no remittance to the TSA.
It's a shame how a few people have made us poor in this country.

nlfpmod:

https://www.youtube.com/watch?v=HF_75xeTCJA

NNPC: How We Raised Crude Oil Production from 900,000bpd to 1.6mbpd



https://www.google.com/amp/s/www.thisdaylive.com/index.php/2022/12/08/nnpc-how-we-raised-crude-oil-production-from-900000bpd-to-1-6mbpd/amp/

What about the funds attached to it, scarcity in town and hike in the price of petrol?

Oh Really!

Raised crude production from 900 to 1.6 million bpd but remittances dropped to 0 Naira.

Ohhh Reallyyy

You cannot tell when you are being told the truth or lied to again in this country

Buachi and Gombe de among?

God1000:
And yet there's fuel scarcity right now in different parts of the country.


This government is a big joke.

Affliction will not rise the second time, vote Peter Obi for president

The way you all are yelling P Obi is funny like most of the criminal political elites are not his friends
Don’t worry, he will perform magic

Peter Obi thank you o

The guy use statistics expose dem

Later one useless crook go talk say" na statistics we wan chop?"

Oh!!!!
Is dat so
.
.
.
How come the fuel scarcity and price hike
Naija na real scam....
.
.
.
OBI-DATTI IS COMING...