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Nigeria - July 3, 2024

BREAKING NEWS! NNPC Declares Oil State of Emergency

The Nigerian National Petroleum Company Limited (NNPCL) has declared a state of emergency on oil production in a decisive move to increase Nigeria’s crude oil output and grow its reserves.

NNPCL’s Group Chief Executive Officer, Mele Kyari, made this announcement during his keynote address at the 23rd edition of the Nigeria Oil and Gas Conference and Exhibition Week in Abuja on Tuesday.

“We have decided to stop the debate. We have stated war on the obstacles affecting our crude oil production. War indicates war. We have the right tools. We know what to fight. We understand what we have to do at the level of assets. We have actually engaged our partners. And we will collaborate to improve the situation,” Kyari declared.

Kyari described that a detailed analysis of possessions revealed Nigeria could easily produce two million barrels of petroleum each day without deploying brand-new rigs.

However, the major impediment to achieving this target has been the industry’s slow response to challenges.

The “war” declaration aims to enable NNPCL and its partners to swiftly eliminate obstacles hindering effective and efficient production. These obstacles include delays in procurement processes, which have significantly impacted the industry.