Nigeria’s crude oil daily production is up by 9 per cent to about 2.09 million barrels.

Nigerian National Petroleum Corporation (NNPC) Group Managing Director Dr. Maikanti Baru said this maintained a line of consistent year-on-year improvement.

Dr. Baru, in a comprehensive end-of-year-message to the NNPC staff, listed Nigerian Petroleum Development Company (NPDC), Nigerian Gas Company (NGC), Petroleum Products Marketing Company (PPMC), Duke Oil, NIDAS and Integrated Data Services Limited (IDSL) among the re-engineered companies.

In the statement signed by NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, Baru singled out NPDC, the corporation’s Upstream flagship company, as the major contributor to the industry’s success in 2018.

Baru said the average production from NPDC’s operated assets alone grew from an average of 108,000 of oil per day (bod) in 2017 to 165,000bod in 2018, describing the feat as the strongest production growth within the oil industry in recent times, even as he noted that it was worth being celebrated.

The GMD said NPDC’s equity production share, which stands at 172,000bod, representing about 8 per cent of national daily production, was no less impressive, adding that the desired results are outcomes of initiatives his Management team emplaced, among which, he noted, are the Asset Management Tea (AMT) structure, Strategic Financing, Units Autonomy and security architecture framework.

Of the Industry milestones in the outgone year, Baru described the 200,000bop addition which the Egina Floating Production Storage and Offloading (FPSO), completed and sailed away to location in August, last year, added to nation’s daily production, even as he disclosed that the project achieved First Oil at 11.20pm on 29th December, 2018.

The NNPC GMD said $1.7billion was saved with corporation’s Joint Venture (JV) partners over a five-year tenor repayment plan, saying already the corporation has defrayed $1.5billion of the arrears.

Baru promised that NNPC would stick to the Repayment Agreement with the JV Partners while transiting to self-funding IJV modes with the corporation’s partners. He said tiding up Cash Call issues had led to increased commitment and enthusiasm to invest in the industry even as it has also boosted NNPC’s credit profile internationally.

Baru concluded the achievements of NNPC in the Upstream sector by listing other milestones achieved by his team to include: reduction in contracting cycle for Upstream Operations to nine months from an average of 24, even as the corporation targets a six months cycle; lowering of production cost from $27/barrel to $22/barrel; and improving on the security situation in the Niger Delta through constructive engagement and dialogue with stakeholders.

In the frontier basins, NNPC has intensified exploration in the Benue Trough, with the expected spudding of Kolmani River Well 2 on 19thJanuary.

Activities will resume in the Chad Basin as soon as there is a greenlight on the security situation in the enclave.

In the Midstream, the NNPC GMD stated, Nigeria achieved an average national daily gas production of 7.90bscf, translating to 3 per cent above the 2017 average daily gas production of 7.67bscf.


He said of the 7.90bscf produced in 2018, an average of 3.32bscfd (42%) was supplied to the export market, 2.5bscfd (32%) for Reinjection/Fuel Gas, 1.3bscfd (16%) was supplied to the domestic market and about 783mmscfd (10%) was flared.

The GMD stated that out of the 1.3bscfd supplied to the domestic market, an average of 71mmscfd went to the Power Sector; 470mmscfd was supplied to the Industries and the balance of 69mmscf delivered to the West African Market through the West African Gas Pipeline (WAGP).

Baru said NNPC would bridge the medium-term domestic gas supply deficit by 2020 through the corporation’s Seven Critical Gas Development Projects (&CGDPS), adding that a reputable Project Management consulting firm is collaborating with an NNPC team to achieve accelerated implementation of the projects.

He lauded the contribution of the corporation’s Downstream outfit, NNPC retail, saying it played a significant role in ensuring continuous supply of petroleum products to Nigerians through its Mega, Affiliates and Leased stations.

Baru flaunted the company’s sale of 1.2 billion litres of petroleum products in 2018 as against 1.1 billion litres in 2017, representing a seven per cent increase.

He said the feat was achieved through an addition of 40 new Affiliate and Leased stations, which he said, brought the company’s network to 618 stations nationwide.

“We are currently planning for a better performance and achievement in 2019, especially with the continuous innovations and creativity in the downstream sector and the performance bond signed by all the relevant heads of our operating units.

“Continuous improvement as one of the principles of world class organisations is going to remain our key word in 2019. Last year was empirically better than 2017, we believe, plan and strive to achieve a better performance this year, by God’s grace,” Baru concluded in his end-of-year statement.

https://www.akelicious.net/2019/01/oil-output-hits-209m-barrels.html

In this Buhari era it is impossible. I expected 100 thousand barrels only
Good morning sweetie's
wishing u all a prosperous new year and a blissful week

Good one,only if its benefits can be felt by the common man. If not, then they are just stats.
Happy New Year guys,

Yet budget performance is below 15% . which one person go believe sef

Very strange

Good one

Increase in oil output only benefits the canals and nothing else.

How does this concern the ordinary Nigerians in the street? They should better reduce fuel prices or its a useless news.

So much for diversifying the economy, anyway new year FTC...e b like na my Year to blow

EGINA FIRST OIL CONFIRMED...... +200,000bopd

God Bless TEPNG
God Bless SAI BABA 4+4
God Bless the Federal Republic of Nigeria
And God bless all Patriotic Nigerians that are happy to hear/believe such good news

4+4 = Ne×t Le✔el



EGINA FLARE BURNING BRIGHT

DonFreshmoney:
Increase in oil output only benefits the canals and nothing else.

How does this concern the ordinary Nigerians in the street? They should better reduce fuel prices or its a useless news.

News like this are always useless to bitter/shallow minds

couragemurphy:
EGINA FIRST OIL CONFIRMED...... +200,000bopd

God Bless TEPNG
God Bless SAI BABA 4+4
God Bless the Federal Republic of Nigeria
And God bless all Patriotic Nigerians that are happy to hear/believe such good news

4+4 = Ne×t Le✔el



EGINA FLARE BURNING BRIGHT

dem still dey flare gas?


I hope that with improved revenue, the federal government will stop mortgaging the future of Nigeria by borrowing

Scam of a government. Despite these increase in production, government is still borrowing trillions with nothing to show for it. Buhari government is making more money, yet Nigeria id world capital of poverty. Unemployment is increasing at a geometric progression.
WHERE IS THE MONEY?

The problem is not the hit target but utilizing the proceeds for national development.

michlins:
dem still dey flare gas?

Flaring in Nigeria is still very common. resources / revenue being wasted, and the environment continuously polluted.

The main problem is our Government and her poor regulations regarding flaring. the fine for flaring is so cheap that oil companies prefer to pay the fines upfront than investing money to build plants for gas processing/utilization.

michlins:
dem still dey flare gas?


I hope that with improved revenue, the federal government will stop mortgaging the future of Nigeria by borrowing

There is always flare everywhere in the world in any oil processing platform. That compulsory flare is called safety flare.

The flare that is wrong is what is called routine flare. Which is the additional gas above safety flare that is flared continuously.

So the flare u see in Egina FPSO is safety Flare.

SamuelAnyawu:
Even if it goes up to 4million barrel daily the Incompetent President has no clue on how to improve our Economy.


Next News Please

Better watch it before Hatred kills you!
You and your ilks!


To the wailing zombies that dont like reading any good news about their country...

You wake up every morning and rush to social media in search of bad news of this nation,
so that you will comment and share it among your friends.......
but when you see the good news ,you pretend to be blind.
And every night you stay in one corner of your room praying to God to bless anything you lay your hands on in the same country 
Hmmmm!!! May God forgive and have mercy on you.
#May OUR President Succeed 
#When Nigeria become great , you will surely see this, but..........

Nigeria will keep moving forward under the able leadership of President Buhari.

Few weeks ago, some were running their mouths that Buhari's budget was unrealistic due to production volume.

We will not allow the criminals we chased away to return and steal everything unabated again.

couragemurphy:



Flaring in Nigeria is still very common. resources / revenue being wasted, and the environment continuously polluted.

The main problem is our Government and her poor regulations regarding flaring. the fine for flaring is so cheap that oil companies prefer to pay the fines upfront than investing money to build plants for gas processing/utilization.

Superb. On point brother!

GOD BLESS OUR PRESIDENT MUHAMMADU BUHARI.

This is one of the many changes we arw seeing in this administration.

This is what we voted for.

Straight to the NEXT LEVEL we go, a land flowing with milk and honey.

Jesuu

We are in the RIGHT track to a good country..........

Soon PDP will unleash their sponsored militants to undermine Nigeria's economic growth.

which idiot put 2.2m daily production as an assumption in the budget?

So we are just hitting 2m barrels now and we need a sustained production of 2.2m everyday in order to sustain this year's budget.

Buhari is just clueless Sha.

couragemurphy:


Dont mind them, enemies of the State.

If it were one bad news of boko haram and co, they will be masturbating inside the thread.
I wonder what kind of person/human will be deriving joy to hear evil news about his own country?
Hatred and bitterness kill faster than CANCER.

They are just irredeemable.
Children of hate and perdition they all are.

netpro:
Nigeria will keep moving forward under the able leadership of President Buhari.

Few weeks ago, some were running their mouths that Buhari's budget was unrealistic due to production volume.

We will not allow the criminals we chased away to return and steal everything unabated again.

NEVER AGAIN WILL PDThieves NEAR ASO ROCK

couragemurphy:


News like this are always useless to bitter/shallow minds

Actually, news like this are useful to garrulous zombies who believe all they are told because that's what zombies do.

life2017:



There is always flare everywhere in the world in any oil processing platform. That compulsory flare is called safety flare.

The flare that is wrong is what is called routine flare. Which is the additional gas above safety flare that is flared continuously.

So the flare u see in Egina FPSO is safety Flare.

I would love to meet people like you this new year. See as you kindly explained this to me


Thanks for your time and understanding

couragemurphy:


NEVER AGAIN WILL PDThieves NEAR ASO ROCK

Shut it. This is an average production rate during PDPS tenure.