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.


Nigeria’s oil production to hit 250 000 bpd by 2020

14 July 2014, 15:27

Uyo-  The Nigerian National Petroleum Corporation (NNPC), said it was set to increase output of Nigeria Petroleum Development company (NPDC), from 170 000 to about 250 000 barrels per day (bpd) by 2020.

The Group Managing Director of NNPC, Andrew Yakubu, stated this in Uyo in a key note address at a Capacity Building Workshop for Energy Correspondents.

NPDC is the NNPC’s flagship exploration and production subsidiary.

“As of today, NPDC is proudly the fifth largest producer of crude oil as well as the leading gas supplier in the country.

"The focus is to grow NPDC to a medium sized exploration and production company with capacity to produce over 250 000 bpd by the year 2020,” he said.

Yakubu said the current national oil production output was 2.5 million bpd, in spite of various constraints such as crude oil theft and pipeline vandalism faced by the oil producing firms in the Niger Delta.

He revealed that the feat was achieved through the development of existing oil wells and drilling of new ones within NPDC areas of authority, as well as the oil blocks acquired from Shell Nigeria via divestment.

Yakubu noted that Nigeria had reduced the flaring of natural gas in mining concessions from 30 percent to 10 percent, which had given rise to addition of value in the gas sub-sector.

According to him, domestic gas consumption has risen from 300 000 standard cubic feet, to over 1.500 billion, thereby contributing immensely to the development of the national economy.

The GMD said the corporation had embarked on infrastructure development to aid the growth of the economy.

According to him, more than 200 manufacturing firms in Nigeria have hooked to gas as the source of energy to produce goods and services.
-     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...