Too bad as NNPCL rejects move to increase oil production to 1.8mb/d

NNPCL rejects move to increase oil production to 1.8mb/d

 Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPC), has firmly opposed the proposal by the Senate Committee on Appropriation to raise the crude oil production benchmark in the 2024 Appropriation Bill from the initially set 1.7 million barrels per day (mb/d) to a higher level of 1.8 mb/d.

Kyari insisted on sticking to the benchmark approved by President Bola Tinubu, emphasizing that the estimates were realistic based on global oil market dynamics. 

He cautioned that security challenges in the Niger Delta, particularly crude oil theft, could impact the Federal Government's projections. 

Kyari provided updates on refinery maintenance, stating that Port Harcourt and Warri refineries would resume production in December and the first quarter of 2024, respectively. 

He affirmed December 2024 as the production target for the Kaduna Refinery. 

Senator Adeola commended Kyari for strengthening the committee's convictions on the 2024 budgetary proposals.

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