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NNPCL declares state of emergency on crude oil production

The Nigerian National Petroleum Company Limited, NNPCL has declared a state of emergency on crude oil production.

According to NNPCL, it is a move towards increasing Nigeria’s crude oil production and growing its reserves.

This was conveyed in a statement issued out by the Chief Corporate Communications Officer of NNPCL, Olufemi O. Soneye, on Tuesday, 2nd of July, 2024.

The statement reads:

“In a move towards increasing Nigeria’s crude oil production and growing its reserves, NNPC Ltd has declared a state of emergency on production in Nigeria’s oil and gas industry.

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“Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari, disclosed this in a keynote address at the opening ceremony of the 23rd edition of the Nigeria Oil & Gas Conference and Exhibition (NOG Energy Week) in Abuja, on Tuesday.

“ ‘We have decided to stop the debate. We have declared war on the challenges affecting our crude oil production. War means war. We have the right tools. We know what to fight. We know what we have to do at the level of assets. We have engaged our partners. And we will work together to improve the situation’, the GCEO declared.

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“According to him, a detailed analysis of assets revealed that Nigeria can conveniently produce two million barrels of crude oil per day without deploying new rigs, but the major impediment to achieving that remains the inability of players to act in a timely manner.

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“He said the ‘war’ will help NNPC Ltd. and its partners to speedily clear all identified obstacles to effective and efficient production such as delays in procurement processes, which have become a challenge in the industry.” [CONTINUE READING HERE]>>>>>



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