NNPC declares state of emergency on oil production

• Published On: 02 July 2024 at 20:17

According to the Nigerian National Petroleum Company Limited, an emergency has been declared regarding oil output.

It stated that this was a step towards boosting Nigeria's reserves and output of crude oil.

This was revealed by NNPCL Group Chief Executive Officer Mele Kyari in a keynote speech on Tuesday at the start of the 23rd Nigeria Oil and Gas Conference and Exhibition Week in Abuja.

"We have chosen to end the discussion. We've declared war on the obstacles impeding our ability to produce crude oil. War is war. We have the appropriate equipment. We are aware of what to combat. At the asset level, we are aware of what needs to be done. Our partners have been involved. And we'll cooperate to make things better," Kyari said.

OPEC claims that Nigeria's oil production has decreased to 1.25 million barrels per day.
He said that Nigeria could easily produce two million barrels of crude oil per day without deploying more rigs after a thorough asset appraisal.

However, the main obstacle to accomplishing this is the players' incapacity to respond promptly.

He went on to say that the "war" will assist NNPCL and its partners in swiftly removing any barriers to productive and efficient production that have been discovered, such as the industry-wide problem of procurement process delays.