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NNPCL Targets 3 Million Barrels Daily Amidst Crackdown on Oil Theft

F.Adenike

The Nigerian National Petroleum Company Limited (NNPCL) has expressed optimism about significantly boosting crude oil production, provided that pipeline vandalism and oil theft are effectively curbed.



According to NNPCL, the nation could achieve a daily output of 3 million barrels, surpassing the current OPEC-allocated quota.


Olufemi Soneye, Chief Corporate Communications Officer of NNPCL, highlighted the detrimental impact of large-scale vandalism on the nation's economy. "Three million barrels per day is achievable in Nigeria if all stakeholders work in synergy," Soneye stated during a briefing with journalists at the National Assembly.



He emphasized the importance of collaboration among security agencies, both government and private-owned, oil companies, and host communities.


President Bola Tinubu has shown political resolve by directing relevant security agencies to intensify efforts against oil theft and pipeline vandalism. These measures have already led to an increase in daily oil production from 1.4 million to 1.7 million barrels.



"With expected synergy from all relevant stakeholders on the war against oil theft and pipeline vandalism, the required enabling environment would be in place for optimal oil production to the volume of 2.5 to 3 million barrels per day," Soneye added.


The severity of the issue was shown by Muritala Muhammad, Deputy Manager of the NNPC Command and Control Centre, who revealed that over the past six months, more than 8,000 illegal refineries and 5,800 illegal oil pipeline connections were detected and destroyed.


Bayelsa, Rivers, Imo, and Abia were identified as hotspots for these criminal activities.


Soneye recalled a period when oil production plummeted to 900,000 barrels per day due to rampant oil theft, causing significant concern for the country's economic stability.



However, the involvement of private security agencies and renewed military efforts have since alleviated these fears.

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