…Says NNPCL lost 200,000bpd to PENGASSAN’s strike
Nigeria’s crude oil production is expected to hit a total of 1.8 million barrels per day in December, according to Bayo Ojulari, the Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL).
Ojulari disclosed this while speaking with State House Journalists, in Lagos, after briefing President Bola Tinubu, at the State House, in Lagos, on Monday.
The NNPCL CEO, disclosed that he was at the State House to brief the President on developments in the oil sector, especially, on the progress in NNPC .
Ojulari said he briefed the President particularly, on crude oil production performance, as well as, progress being made in attracting investments into the sector.
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“As you recall the President gave us a clear mandate which is to grow production to at least 2 million bpd by 2027 and upto 3 million bpd by 2030 as well as grow gas production as well.
The NNPCL CEO who revealed that Nigeria is making good progress in crude oil production, recalled that “We recorded 1.68mbpd of oil production last month which was very good.
“That was the first in about five years, in terms of milestone, we also recorded the highest gas production above 7BCF per day which is also the highest in recent times”
“On the backdrop some turnaround maintenances, we have done in August and September, we are hoping that by the end of the year we should at least be clocking 1.8mbpd.”
He described the recent industrial dispute between the Dangote Group and members of the Petroleum and Natural Gas Workers PENGASSAN, as “unfortunate”, as it affected vital sectors of the oil and gas industry
“It was unfortunate because, whenever there is strike, critical staff manning critical facilities are not available is almost impossible.
“In this particular case we actually lost significant production of over 200,000 bpd that was differed we also have Gas production that was differed we also have power generation that was impacted about 1.2mega watts of power that was affected by that strike”
“I think I’m very pleased that the Federal Government through the leadership of Minister of Labour and full support of NSA we were able to get everyone to dialogue and agree.
” Now there is a communique that has been agreed on. We are all very hopeful that everyone will abide by the communique.
He disclosed that crude oil production had since resumed to status quo.
” There has been one or two areas that we are still trying to catch up with, but on overall, we are gradually back.to restore lost production and the deferment that we have as of today.
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He also described the recent increase in prices of gas and petrol as largely artificial, resulting from the recent industrial dispute, but assured that they will be adjusted
“So, the increase you saw was relatively artificial because for the period of the strike quiet movement and loading were delayed for about two to three days and because of that you see that impact and as things returns to normal it takes sometimes for distribution to fully return and with that delay.
“My expectations is that now that things are back to normal, prices should return to what they were before the strike.”
