No difference in production figures released by NNPC, NUPRC: Official
The Nigerian National Petroleum Company Limited (NNPC Ltd) has clarified that there is no discrepancy between its crude oil production figures and those supplied by the regulatory agency, the Nigerian Upstream Petroleum Regulatory Company (NUPRC).
The NNPC gave the clarification against the backdrop of reports in a section of the media that the 1.54 million barrels per day for September cited by the NUPRC was far below the 1.8 million barrels per day for November cited by the NNPC Ltd.
The seeming disparity results from the difference in the coverage period in the reports. In contrast, the NNPC Ltd.’s figure was the peak production for October 2024, the NUPRC’s figure was the average production for September 2024.
This fact was confirmed by the Chief Executive Officer of NUPRC, Gbenga Komolafe, at the recent 42nd Nigerian Association of Petroleum Explorationists Annual International Conference & Exhibition in Lagos, where he disclosed that Nigeria’s crude oil output, including condensate, increased by 16.56 per cent to 1.8 million barrels per day in October 2024, from 1.54 million barrels per day in September 2024.
The CEO of NUPRC, who was represented by the Executive Commissioner, Development & Production, Enorense Amadasu, was quoted as saying: “This represents an increase of 253,710 barrels per day to reach 1.8 million barrels per day in October, up from 1.54 million barrels per day in September 2024, representing 16.56 per cent month-on-month rise”.
The NUPRC also confirmed at the NAPE event that the 1.8 million barrels per day feat pushed Nigeria’s production beyond the 1.5mbpd quota of the Organisation of Petroleum Exporting Countries (OPEC).
There is, therefore, no disparity or discrepancy in the production figures between NNPC Ltd and the regulator.
NNPC Ltd is working closely with relevant stakeholders to boost production to two million barrels per day and above by this year’s end.
Olufemi O Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja.
November 12, 2024.
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