The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari has said that Nigeria’s crude oil production will reach 1.8 million barrels per day by July and 2 million barrels per day by December 2023.
This was said during an interview on Channels Television on June 1. During the interview, Kyari said Nigerians must realize that when it comes to crude oil production, condensates are just as important as crude oil and should also be classified as liquids, adding up to the country’s overall production output.
- “The budget of this country is based on the cumulative production of our crude oil and condensates Mind you, sometimes, these condensates are more expensive than the crude oil, so it’s the total liquids we are dealing with.
- “The total number of liquids as of today is up to 1.6 million barrels per day. We have a line of sight, by the end of July, we will hit 1.8 million barrels per day, and we will hit 2 million barrels per day by the end of December.”
He further noted that President Tinubu has already instructed the security agencies to tackle all security threats and the additional layers of intervention as well as increased investments will allow Nigeria to realize these oil production goals.
In this interview, he also said that when the Dangote Refinery starts churning out products, they will be transported across the country using trucks. He highlighted the fact that the Port Harcourt, Warri, and Kaduna refineries will become ready for use by the end of the year. He said:
“We did have some supply chain issues which is a global problem. There is a crisis in the global marine sector. Getting products to the locations is a huge challenge and we had some delays in the delivery of some of our equipment, however, the ambition is to get all our refineries working and the net effect is that this country will become an exporter of petroleum products.”