The Nigerian National Petroleum Company Limited (NNPC Ltd) and the Nigerian Upstream Petroleum Regulatory Company (NUPRC) have clarified that there is no difference in their crude oil production figures.
The clarification according to the Chief Corporate Communications officer of NNPC LTD Femi Soneye comes after reports suggested a discrepancy between the 1.54 million barrels per day (mbpd) cited by the NUPRC for September and the 1.8mbpd cited by the NNPC Ltd for November.
However, the NUPRC has confirmed that Nigeria’s crude oil output increased by 16.56% to 1.8mbpd in October 2024, surpassing the Organisation of Petroleum Exporting Countries (OPEC) quota of 1.5mbpd.
The seeming disparity was attributed to differences in reporting periods.
Soneye in the statement said the NNPC Ltd’s figure represented peak production for October 2024, while the NUPRC’s figure represented average production for September 2024.
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It added that both agencies are working together to boost production to 2mbpd and above by the end of 2024.
NNPC LTD emphasized that the clarification is necessary to ensure accuracy and transparency in the reporting of crude oil production figures.
(Editor: Paul Akhagbemhe)
