NNPC Breaks Down The Gap In Crude Oil Production Data With NUPRC

NNPC Breaks Down The Gap In Crude Oil Production Data With NUPRC

The Nigerian National Petroleum Company Limited (NNPCL) has provided clarification on the difference between its crude oil production figures and those released by the...READ MORE…

Nigerian Upstream Petroleum Regulatory Company (NUPRC).

In a statement issued on Monday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, explained that the discrepancy stems from the different periods considered when calculating the production numbers by the two organizations.

This clarification follows media reports highlighting the difference between NUPRC’s reported figure of 1.54 million barrels per day for September and NNPCL’s figure of 1.8 million barrels per day for November.

Soneye elaborated that the NNPC Ltd.’s figure of 1.8 million barrels per day refers to the peak production for October 2024, while the NUPRC’s figure represents the average production for September 2024.

The NNPCL emphasized that there is no actual discrepancy between the figures released by the two organizations. The clarification was further supported by NUPRC CEO Gbenga Komolafe, who confirmed at the 42nd Nigerian Association of Petroleum Explorationists Annual International Conference in Lagos that Nigeria’s oil output, including condensate, rose by 16.56 percent from 1.54 million barrels per day in September to 1.8 million barrels per day in October 2024.

NNPCL reiterated that it is working closely with relevant stakeholders to increase oil production to 2 million barrels per day and beyond by the end of 2024.

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