The Nigerian National Petroleum Company Limited (NNPC Ltd) has declared a state of emergency on crude oil production.
Speaking at the ongoing 2024 Nigeria Oil and Gas (NOG) Energy Week in Abuja on Tuesday, June 2, NNPC Ltd’s group chief executive officer, Mele Kyari, declared a decisive move to address forces and challenges hindering crude oil production in the country.
According to the NNPC Limited boss, Nigeria can conveniently produce two million barrels of crude oil daily without deploying new rigs.
His words
Kyari highlighted delays in procurement processes as a significant hurdle and called for swift action to streamline operations and enhance efficiency across assets.
The NNPC Ltd CEO outlined medium to long-term strategies, including replacing outdated crude oil pipelines and introducing a rig-sharing initiative with partners, Punch reports.
He noted:
Furthermore, Kyari reaffirmed NNPC Ltd’s commitment to investing in critical midstream gas infrastructure such as the Obiafu-Obrikom-Oben (OB3) and Ajaokuta-Kaduna-Kano gas pipelines.
He said the projects are pivotal for enhancing domestic gas production, supporting power generation, industrial growth, and overall economic development in Nigeria.
Haitham Al Ghais, secretary-general of the Organisation of Petroleum Exporting Countries (OPEC), was also at the event and underscored the continued importance of oil and gas in the global energy mix, with oil demand expected to reach 116 million barrels per day by 2045.
Earlier, TimesNow.com.ng reported that Dangote Refinery rescheduled the commencement of Premium Motor Spirit (fuel) supply to the Nigerian market to July 10–15, 2025.
The president of Dangote Group, Aliko Dangote, revealed this during a visit by the governor of Lagos state, Babajide Sanwo-Olu, to the refinery.
Dangote refinery has consistently complained about the challenges of sourcing crude from Nigeria, and had to rely on importation.
Proofreading by James Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
