November 25, (THEWILL) – The Nigerian National Petroleum Company Limited (NNPCL) has dismissed reports of disparity between its crude oil production figure and that of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Responding to media reports of a mismatch between the NNPC Ltd’s 1.8 million barrels per day (mbpd) for October 2024 and NUPRC’s 1.54 mbpd for September, the NNPC clarified that the figures represent different periods.
In a press statement issued on Monday, by its Chief Corporate Communications Officer, Olufemi Soneye, the company explained that its cited figure represents the peak production for October 2024, whereas the NUPRC figure refers to the average production for September 2024.
“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)”, he said.
The clarification aligns with remarks made by the Chief Executive Officer of NUPRC, Gbenga Komolafe, during the 42nd Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition held in Lagos.
Represented by the Executive Commissioner, Development & Production, Enorense Amadasu, Komolafe confirmed that Nigeria’s crude oil output, including condensates, rose by 16.56% month-on-month, reaching 1.8 mbpd in October from 1.54 mbpd in September 2024.
“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 a 16.56 percent month-on-month rise.
“The NUPRC also confirmed at the NAPE event that the 1.8mbpd feat pushed. Nigeria’s production is 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 2mbpd and above by the end of 2024.”
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