Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


NPDC to begin production of 250 000 bpd in 2015

24 April 2014, 16:15

Abuja- The Nigerian National Petroleum Corporation (NNPC) has said the Nigerian Petroleum Development Company (NPDC), its subsidiary, would begin production of 250 000 barrels of oil daily in 2015.

The Group Managing Director of NNPC, Andrew Yakubu, who said this, added that NPDC was already being repositioned to take its current production level of 130 000 barrels per day to the new projection.

Yakubu, who spoke at the graduation ceremony of Chief Officers Management Development Programme of batches 069 and 072 in Abuja, said the NPDC’s assets base had grown with the assignment of new oil mining leases, adding that the company was aggressively exploring in “offshore, onshore and the inland basins of Chad, Anambra, Benue, Bida and Sokoto-Dahomey”.

He said that the exploration was in line with the strategic direction to support the Federal Government to increase national crude oil reserve and production to 40 billion barrels and four million barrels per day, respectively.

“With the intensified approach, including the expedited action on new projects like Egina, the reserve and production targets are realisable,” he said.

Yakubu also expressed NNPC’s readiness to reinvigorate domestic consumption of the liquefied natural gas otherwise known as “cooking gas” across the country.

He said that NNPC was determined to reduce the pressure on kerosene consumption and that it was refocusing its strategy to encourage and aggressively grow the consumption of LPG.

According to him, the LPG provides a cleaner and cheaper energy alternative.

"NNPC’s footprint in the domestic gas market has attained unprecedented growth.

“This is with the commissioning of the Nigerian Petroleum Development Company’s (NPDC) 100 million standard cubic feet of gas per day in Oredo Gas Processing Facilities and the acquisition of the new assets.

“NPDC is now the biggest producer and supplier of gas into the domestic market, contributing over 400 million standard cubic feet of gas per day,” he said.

The GMD said that over 1 000 square kilometres of seismic data had been acquired in the Chad Basin in spite of the security situation in Borno.

He stated that revamping of the corporation’s critical downstream facilities such as the refineries, depots, pipelines and jetties, had remained the focus of the management.

He said that the efforts would ensure seamless supply and distribution of petroleum products nationwide and implored the graduands to deploy their expertise to enhance NNPC’s efficiency, integrity, accountability and transparency.

-    NAN

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...