The Nigerian National Petroleum Company Limited (NNPC Ltd) has clarified that there’s no discrepancy between its crude oil production figures and those supplied by the Nigerian Upstream Petroleum Regulatory Company (NUPRC).
The seeming disparity arose from reports comparing the 1.54 million barrels per day (mbpd) for September cited by the NUPRC with the 1.8mbpd for November cited by the NNPC Ltd.
However, NNPC Ltd explained that the difference in periods of coverage in the reports caused the disparity.
The NNPC Ltd’s figure was the peak production for October 2024, while the NUPRC’s figure was the average production for September 2024.
The Chief Executive Officer of NUPRC, Mr. Gbenga Komolafe, confirmed 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
This increase pushed Nigeria’s production beyond the 1.5mbpd quota of the Organisation of Petroleum Exporting Countries (OPEC)
NNPC Ltd is working closely with relevant stakeholders to boost production to 2mbpd and above by the end of 2024