The latest report from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) shows that the nation’s crude oil production increased marginally to 1.53 million barrels per day with condensate in July 2024, from the 1.5 million barrel per day with condensate produced in June, 2024.
This was contained in the July 2024 Oil Production Status Report released by the Commission on Wednesday, August 14, 2024.
Although, the current figure of 1.53mpbd is contradicting the 1.61mbpd figure released recently by the Commission Chief Executive, NUPRC, Engr. Gbenga Komolafe at the House of Representatives Special Committee Hearing on Oil Theft/Losses.
The latest figure is a huge improvement considering the fact that the nation has been facing declining daily production since the beginning of this year, attributable to losses from theft and pipeline vandalism.
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mr. Mele Kyari, while receiving in audience the Chief of Defence Staff, General Christopher Musa who led senior military officers on a courtesy visit to the NNPC Towers, on Tuesday in Abuja, disclosed that the current onslaught against the menace of crude oil theft and pipeline vandalism in the country is yielding positive results, therefore, appealed to the military to sustain the tempo.
He said, “I personally call for enhanced and sustained security engagement. This is because we have reached a new peak in production that we haven’t seen in the last three years.
“This is clearly related to the sustained efforts by the armed forces and other security agencies to protect our critical assets, particularly the pipeline infrastructure in specified areas where we are working closely with these agencies. We are already seeing the results transforming into increased production,” Kyari affirmed.
Despite the current setback, Nigeria continues to dominate as Africa’s largest producer of Crude Oil, with the proven reserves of 37.50 billion barrels and a production capacity of approximately 2.19 million barrels per day (mbpd).
