news-details

Nigeria can produce three million barrels of oil daily – NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) is confident that it can increase crude oil production from 1.7 million barrels per day to 3 million, says Chief Corporate Communications Officer Olufemi Soneye.

Speaking in Abuja on Saturday, at a Stakeholders Engagement Session with National Assembly journalists, Mr Soneye emphasised that achieving this goal required support from all stakeholders, including security agencies, government, privately-owned oil companies, and host communities.

He said that President Bola Tinubu’s directives to relevant security agencies have already yielded positive results, with daily oil production rising from 1.4 million to 1.7 million barrels.

Mr Soneye noted that synergy among stakeholders was crucial in combating oil theft and pipeline vandalism, which would create an enabling environment for optimal oil production of 2.5 to 3 million barrels per day.

He said previously, oil production had plummeted to 900,000 barrels per day before private security agencies and military interventions.

Related Posts
Advertisements
Market Overview
Top US Stocks
Cryptocurrency Market