Thursday, May 7, 2026
  • About Us
  • Advertise With Us
  • Contact Us
  • Privacy Policy
Salient Times Online
  • Home
  • News
  • Business
  • Politics
  • Education
  • Entertainment
  • Metro
  • Health
  • E-COPY
No Result
View All Result
Salient Times Online
  • Home
  • News
  • Business
  • Politics
  • Education
  • Entertainment
  • Metro
  • Health
  • E-COPY
No Result
View All Result
Salient Times Online
No Result
View All Result
Home Business

Nigeria’s crude oil production to reach two million barrels daily by December — NNPCL

Salient Times Online by Salient Times Online
July 30, 2024
in Business
0
Nigeria’s crude oil production to reach two million barrels daily by December — NNPCL
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

As CNS assures more security for maritime sector

The nation’s crude oil production of 1.6 million barrels daily is expected to hit 2 million barrels by the end of the year, given the current full support of the Nigerian Navy, leading to a reduction in crude oil theft in the country.

You might also like

Lokpobiri Urges Oil And Gas Operators To Accelerate Short Term Production Giants Amid Global Supply Opportunity

Sachet water producers suspend production in Imo over rising costs

Nigerian, UK businesses scale up investments as President Tinubu visits London

The Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL, Mr Mele Kyari, disclosed this in Abuja on Tuesday at a meeting of Maritime Stakeholders convened by the Chief of the Naval Staff, Vice Admiral Emmanuel Ogalla

The NNPCL, represented by the Managing Director, Pipeline NNPCL, Mr Folorunsho Karim, appreciated the support of the Nigerian Navy to the organisation and expressed optimism that the target would be met, all things being equal

According to him, “We are moving from the current 1.6 million barrels of daily production to 2 million barrels by the end of the year, and we are fully committed to doing that. I appreciated the effort and the support of the Nigerian Navy for making this possible because without them we wouldn’t be able to achieve this.

“So they have been giving us a lot of support and we’re seeing a reduction in oil theft. And the pipeline vandalism has also decreased significantly and a lot presently going on in the industry right now. And we hope that we will sustain this. We’ll be able to achieve our target of 2 million barrels per day towards the end of the year.”

ADVERTISEMENT

He assured that, with the support of the Nigerian Navy and other relevant stakeholders, crude production will reach the targeted 2mbpd by year-end.


Speaking, the Chief of the Naval Staff, Vice Admiral Emmanuel Ogalla, said that the meeting was convened to bring together industry regulators, maritime law enforcement, and industry players to discuss critical issues that are germane to maritime and energy security.


The Naval boss pointed out that the development of Nigeria’s sectors over the last few decades has witnessed several complex security challenges, such as violent agitations, oil theft, pipeline vandalism, and piracy and sea robbery, amongst others.

He explained that the menace was driven by the proliferation of small arms and light weapons, communal clashes, poverty, and unemployment.

He added that traditional means of addressing the security challenges have not yielded the desired result; hence, the meeting also aimed to address emerging security issues arising from the implementation of the Petroleum Industry Act.

He said the Federal Government’s drive to develop the nation’s blue economy required the support of all stakeholders, adding that the President had expressed a desire to enhance the ease of doing business within the maritime environment as well as the oil and gas sector in order to eradicate poverty.

He said the NN had sustained its maritime security operations through surveillance, response capability, and law enforcement, in addition to collaboration with all maritime stakeholders.

He added that the Navy rejigged its operations and established OP Delta Sanity in January this year, which led to the arrest of 35 ships involved in oil theft and handed them over to appropriate prosecuting agencies.

He assured everyone of the Nigerian Navy’s commitment to fulfilling its statutory roles in order to create a conducive maritime domain for the economic prosperity of our nation.

He said the Navy was working to ensure that its operations do not constitute obstacles to the operators but rather contribute to their being able to perform their duties and produce optimally.

According to him, “The provision of security is part of ways of increasing and promoting ease of doing business because if there is no security, the operators cannot operate.

“Also ensuring that our arrests and detentions do not impede legitimate business operators, we ensure that when we make arrests, we quickly carry out our preliminary investigation. And if it was based on wrong information, we quickly release those vessels so that we do not impede businesses. So generally, that is our own contribution.

“The way we feel that we can promote ease of doing business is by ensuring that our operations, our patrols, do not end up constituting problems for the operators. Rather, we should support them by giving them the assurance and the confidence that they are well protected from the criminal elements, who are always keen on disrupting businesses in Nigeria.”.

Tags: Mele KyariNNPCL
Previous Post

ECOWAS Speaker highlights plastic waste crisis, calls for collective action

Next Post

NAMA: Arik aircraft grounded over $2.5m debt case

Salient Times Online

Salient Times Online

Related Posts

Lokpobiri Urges Oil And Gas Operators To Accelerate Short Term Production Giants Amid Global Supply Opportunity
Business

Lokpobiri Urges Oil And Gas Operators To Accelerate Short Term Production Giants Amid Global Supply Opportunity

by Salient Times Online
March 19, 2026
Sachet water producers suspend production in Imo over rising costs
Business

Sachet water producers suspend production in Imo over rising costs

by Salient Times Online
March 19, 2026
Tinubu directs service chiefs to relocate to Maiduguri
Business

Nigerian, UK businesses scale up investments as President Tinubu visits London

by Salient Times Online
March 17, 2026
FG Won’t Surrender Aviation Sector to Foreign Interests — Keyamo
Business

FG Won’t Surrender Aviation Sector to Foreign Interests — Keyamo

by Salient Times Online
March 17, 2026
Nigerian artists generate N60bn on Spotify in 2025
Business

Nigerian artists generate N60bn on Spotify in 2025

by Salient Times Online
March 17, 2026
Next Post
NAMA: Arik aircraft grounded over $2.5m debt case

NAMA: Arik aircraft grounded over $2.5m debt case

ADVERTISEMENT
Salient Times Online

Salient Times Newspaper is a product of a dedicated Journalist and a public analyst.

Categories

  • Business
  • Celebrity Gist
  • Crime
  • Culture
  • Education
  • Entertainment
  • Fashion
  • Features
  • Food
  • Gist
  • Health
  • ICT
  • International
  • Interview
  • Lifestyle
  • Metro
  • National
  • News
  • Obituary
  • Opinion
  • Politics
  • Religion
  • Sponsored
  • Sports
  • Travel
  • World

Recent News

Amotekun Corps Declare Ogun Woman Wanted for Allegedly Jumping Bail

Amotekun Corps Declare Ogun Woman Wanted for Allegedly Jumping Bail

March 31, 2026
The Business Of Bombs :War, Wealth, and the World’s Most Profitable Industry   

The Business Of Bombs :War, Wealth, and the World’s Most Profitable Industry  

March 30, 2026

© 2023 Salient Times Online. All Right Reserved

No Result
View All Result
  • Home
  • News
  • Politics
  • Education
  • Opinion
  • Culture
  • Entertainment
  • Lifestyle
  • About Us
  • Contact Us
  • Advertise With Us

© 2023 Salient Times Online. All Right Reserved