The Nigerian National Petroleum Company (NNPC) Limited has clarified that there is no discrepancy between its crude oil production figures and those supplied by the Nigerian Upstream Petroleum Regulatory Company (NUPRC).
The company gave the clarification against the backdrop of reports in a section of the media that the 1.54 million barrels per day (mbpd) for September cited by the NUPRC was far below the 1.8 mbpd for November cited by the NNPC.
Olufemi Soneye, chief corporate communications officer of the NNPC, said in a statement that the seeming disparity is as a result of the difference in the period of coverage in the reports – whereas the NNPC Limited’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, Mr. 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% to 1.8mbpd million in October 2024, from 1.54 million bpd in September 2024,” the statement read.
Read also: NUPRC puts oil output closer to 1.53m bpd, not 1.8m claim by NNPC
The CEO of NUPRC, who was represented by Enorense Amadasu, the executive commissioner, Development & Production, was quoted as saying: “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% monthon-month rise.”
“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.”
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