₦airaland Forum

The company also stated that it is set to hit the two million barrels per day target set by President Bola Tinubu by December 2024.


The Nigerian National Petroleum Company Limited (NNPCL) says it has reached the mark of 1.8 million barrels per day of crude oil production.

The state-owned oil company which made the announcement on Thursday, also stated that it is set to hit the two million barrels per day target set by President Bola Tinubu by December 2024.

The company also revealed that it is now producing 7.4 million standard cubic feet of gas to power the gas infrastructure especially the AKK. This is an improvement from 6.1 mmscf earlier in the year.

The NNPCL noted that the accomplishment which aligns with the government’s budget, reflects the dedication of all of its teams over the past weeks.

During an interactive session with the Senate Committee on Finance at the National Assembly in December last year, the Group Chief Executive Officer (GCEO) of the Company, Mr. Mele Kyari, had assured that the projections on crude oil production and price benchmark for the 2024 Budget were realistic and realizable.

Speaking on the dynamics of the market in relation to the projected budget benchmark price of $77.96 per barrel, Kyari said: “With what we see in the market today and potentially in the year 2024 and even beyond the next two years, it is very unlikely to see $70 per barrel oil in the market.

The oscillation we are seeing, sometimes you do see prices coming down to $75 to the barrel and sometimes it goes above it, overall, benchmarks are averages. We think that the proposal by Mr. President around the $77.96 is still realisable in 2024.”

On the crude oil production projection, Kyari had stated: “The number we have is 1.785mbpd. This is cumulative of all oil produced in the country. This figure is inclusive of all production including crude oil and condensate.

“I need to make this clarification because of the reports in the media that our OPEC quota is 1.5million barrels per day. The OPEC quota is related only to crude oil. We also do between 250,000 to 300,000 barrels per day of condensate in our production. When you combine the two, the 1.78mbpd is realistic and realisable.”

Source: https://www.channelstv.com/2024/11/14/just-in-nnpcl-reaches-1-8m-barrels-per-day-crude-oil-production/

Good news at last! At least we are able to surpass the OPEC quota of 1.5 Mbpd. The NNPC should take it up to 3 Mbpd and lobby to increase Nigeria's OPEC quota. That way, they can supply to local refineries, sell to international buyers and increase Nigeria's FX earnings.

SmartPolician:
Good news at last! At least we are able to surpass the OPEC quota of 1.5 Mbpd. The NNPC should take it up to 3 Mbpd and lobby to increase Nigeria's OPEC quota. That way, they can supply to local refineries, sell to international buyers and increase Nigeria's FX earnings.

If you think Nigeria produces only 1.5M bpd then you will believe my grandmother is still a virgin.

Go and find out about non OPEC sales and see the quantity of crude NNPC sells as non OPEC sales.
Find out the quantity of crude NNPC fiduciary sellers are in charge of.
A lot of our crude vessels are in Ghana waters, some are also in Chinese waters. Do your finding

Will dix bring down the price of fuel ?



Asking for king of monopoly

That's commendable.

The most corrupt institution in Nigeria is NNPCL

Good for them. Until I see it in Nigerians. I don't believe....

Believe NNPC at your own peril.

Same NNPC that promised countless number of times that refineries would work all to no avail.

Same NNPC that declared humongous profit only to turn around and said it was broke.

NNPC, like the APC, is a weapon fashioned against Nigeria.

A company of questionable character and questionable promises that a drug dealer of questionable character, background, age, parents and education is their oga kpatakpata as the Petroleum minister.

Adonbilivit.

Next lies, please!

Story!

ODOGWU NNPCL

Macphenson:
If you think Nigeria produces only 1.5M bpd then you will believe my grandmother is still a virgin.

Go and find out about non OPEC sales and see the quantity of crude NNPC sells as non OPEC sales.
Find out the quantity of crude NNPC fiduciary sellers are in charge of.
A lot of our crude vessels are in Ghana waters, some are also in Chinese waters. Do your finding

Shut up! If na bad news, u go believe say your grandma still be virgin. Abeg shift!

With nothing to show for it

Country getting worse and worse

Big fat lie...

USELESS NEWS

Zoogerians


Hahaha

Failed kwontry

Make it 2.5m by end of next year sharpaly.

Nice one

What are the masses benefiting from all these?
Are tuition fee free or are their credit facilities?

The only country that exist only on the pages of newspapers and social media.

Nonsense

It was 2.2m in 2014. We can do better

Obedients are in pain right now

SmartPolician:
Source: https://www.channelstv.com/2024/11/14/just-in-nnpcl-reaches-1-8m-barrels-per-day-crude-oil-production/

I stop believing anything NNPC said

Yet fuel is still expensive

Great news

Same story yet no impact on the lives of the common people

Some people are saddened by this fantastic news.

Under Bubu, crude oil production collapsed to as low as 900k bpd.

When Nigeria breaks how will the West survive?
All the resources are East of the Niger?

Sorry they will still have skulls to mine

Audio! OPEC said it's 1.33m b/d. The propaganda is too much.
https://www.vanguardngr.com/2024/11/opec-differs-with-fg-on-oil-output-figure/

koboko69:
Shut up! If na bad news, u go believe say your grandma still be virgin. Abeg shift!

What he is saying is that Nigeria is producing more than 1.5 bbl/day of of crude oil. And the rest is been stollen and not accounted for.

The figure Mele Kyari is announcing is the figure that goes to the Government. There are stolen crude not accounted for here and NNPC is master in that. That's every President since Buhari wanted to control the corporation by being the substantive Minister for petroleum's Resources.

Ok