The Nigerian National Petroleum Company Limited (NNPC Ltd.) has said that its crude oil production figures tallied with that of the Nigerian Upstream Petroleum Regulatory Company (NUPRC).
Chief Corporate Communications Officer, NNPC Ltd., Mr Olufemi Soneye, stated this in a statement on Monday.
Soneye gave the clarifications against the backdrop of reports insinuating that the 1.54 million barrels per day (mbpd) for September cited by NUPRC was far below the 1.8mbpd for November cited by NNPC Ltd.
He said the seeming disparity was as a result of the difference in the period of coverage in the reports, stressing that the NNPC Ltd.’s figure was the peak production for October 2024, whereas the NUPRC’s figure was the average production for September 2024.
The spokesman said that the fact was confirmed by the Chief Executive Officer of NUPRC, Mr Gbenga Komolafe, at the recent 42nd Nigerian Association of Petroleum Explorationists Annual International Conference and Exhibition in Lagos.
He said that the NUPRC boss disclosed that Nigeria’s crude oil output, including condensate, increased by 16.56 per cent to 1.8mbpd million in October 2024, from 1.54 million bpd in September 2024.
The statement quoted Komolafe as saying that: “This represents an increase of 253,710, bpd to reach 1.8 million bpd in October, up from 1.54 million bpd in September 2024, representing 16.56 per cent month-on-month rise”.
He said the NUPRC also confirmed at the NAPE event that the 1.8mbpd 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 by NNPC Ltd. and the regulator. NNPC Ltd is working closely with relevant stakeholders to boost production to 2mbpd and above by the end of 2024.