NNPC ASSURES 500,000 BPD OF CRUDE OIL IN TWO YEARS

NNPC ASSURES 500,000 BPD OF CRUDE OIL IN TWO YEARS

The Nigerian National Petroleum Corporation (NNPC), has assured that its Upstream subsidiary- Nigerian Petroleum Development Company (NPDC) will scale up its production to 500, 000 barrels of crude oil per day (bpd) in the next two years to meet domestic consumption.

This was disclosed by the NNPC GMD Mele Kyari, while speaking at the facility tour of Gas Handling Facility in Ologbo, Benin on Wednesday.

Kyari said NPDC was currently producing 260,000 barrels per day as against the 136,000 barrels per day it produced a year ago.

He said that this was a very impressive level of growth in any upstream company, adding that the NNPC was working with NPDC to hit the set target.

Kyari also assured that the Ologbo plant when completed in October would stop the importation of LPG as Nigeria was blessed with gas and other petroleum resources.

He said, “At that time, you will see at least 30 trucks turning out of this place every day into the domestic market. This will be unprecedented.

“At that point, gas will be delivered without interruption into the domestic market, while crude oil will also be supplied to the international market by our own company under our control.”

 

PUNCH