According to the Nigerian National Petroleum Company Limited (NNPC Ltd), the Nigerian Upstream Petroleum Regulatory Company’s (NUPRC) and its own crude oil output data are identical.
The explanation was made in response to media reports that pointed out an alleged disparity between the 1.8 million barrels per day (mbpd) of oil production recorded by NNPC Ltd. for November and the 1.54 million mbpd figure for September that was referenced by the NUPRC. The apparent discrepancy, according to NNPC, results from the different time periods that the reports cover. While NUPRC’s figure represents the average production for September 2024, NNPC Ltd.’s value represents the peak production for October 2024.
This was further corroborated by the Chief Executive Officer (CEO) of NUPRC, Mr. Gbenga Komolafe, during the 42nd Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition in Lagos. Mr. Komolafe, represented by the Executive Commissioner for Development & Production, Mr. Enorense Amadasu, revealed that Nigeria’s crude oil output, including condensates, increased by 16.56% from 1.54mbpd in September to 1.8mbpd in October 2024. This increase of 253,710 barrels per day marks a significant rise in production.
The NUPRC confirmed that the production spike of 1.8mbpd exceeded Nigeria’s 1.5mbpd production quota set by the Organization of Petroleum Exporting Countries (OPEC).
NNPC Ltd also emphasized that the figures from both the company and the regulator are aligned and that there is no contradiction in the data. The company further reiterated its commitment to working with stakeholders to ramp up production with a goal to reach 2mbpd and beyond by the end of 2024.
