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ComMODITY: NNPC declares a state of emergency on crude oil production in Nigeria

04/07/2024
Source : ORISHAS-FINANCE
Categories: Raw materials

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On Tuesday, July 2, the Nigerian National Petroleum Company Limited (NNPC Ltd) declared a state of emergency on crude oil production in Nigeria.

The managing director of NNPC Ltd Group, Mele Kyari made his statement in her speech during Nigeria Oil and Gas Energy Week (NOG) 2024. For him, this measure is aimed at increasing Nigeria's crude oil production and increasing its reserves. The CEO of NNPC said that a detailed asset analysis revealed that Nigeria can easily produce two million barrels of crude oil per day without deploying new platforms, but the main obstacle to achieving this goal remains the inability of actors to act in a timely manner. Kyari expressed the company's commitment to invest in critical intermediate gas infrastructure such as the Obiafu-Obrikom-Oben (OB3) and Ajaokuta-Kaduna-Kano gas pipelines to boost domestic gas production and supply for power generation, industrial development and the

country's economic prosperity.
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