The Nigerian National Petroleum Company Limited (NNPC Ltd) has declared a state of emergency on Nigeria’s crude oil production, aiming to increase output and grow reserves.
Group CEO Mele Kyari made the announcement at the 2024 Nigeria Oil and Gas (NOG) Energy Week in Abuja, stating, “We have decided to stop the debate.
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We have declared war on the challenges affecting our crude oil production. War means war. We have the right tools. We know what to fight. We know what we have to do at the level of assets.”
Kyari emphasized the need for timely action, citing delays in procurement processes as a major obstacle.
He announced plans to replace old crude oil pipelines and introduce a rig-sharing program with partners to ensure efficient production. The company aims to produce two million barrels per day without deploying new rigs.
Haitham Al Ghais, OPEC Secretary-General, highlighted the global energy demand increase by 23% by 2045, stressing the need for investment in the industry.
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He emphasized that oil and gas will remain predominant fuels, with oil demand reaching 116 million barrels per day by 2045. Al Ghais cautioned against the rush to adopt “Net-Zero” strategies, advocating for a balanced approach to addressing climate change and energy poverty.
This declaration comes as Nigeria faces challenges in meeting its OPEC production quotas. In recent years, the country has struggled with pipeline vandalism, oil theft, and delays in project execution, affecting its oil production levels.
