Nigeria Plans To Surpass OPEC Oil Quota – Official

Cat:

Related stories

2027 Permutations: Enugu State Governor Peter Mbah Moves to APC Soon

Seals Deal With Party Hierarchy By Abiola Olawale Ahead of...

[PHOTOS] Akpabio Arrives in Rome, Pays Tribute at Pope Francis’s Lying-in-State

By Abiola Olawale The President of the Senate, Senator Godswill...

Drama As Ododo’s Government Shuts MTN Service in Kogi, Advises Residents On Other Networks

By Kolawole Ojebisi The Kogi State government's Utility Infrastructure Management...

Atiku Breaks Silence on Okowa, Oborevwori’s Defection from PDP to APC

By Abiola Olawale Former Vice President Atiku Abubakar has addressed...

By Agency Report

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says its focus is to exceed the Organisation of Petroleum Exporting Countries (OPEC)’s oil production quota of 1.74 million barrels per day (bpd).

Its Chief Executive, Gbenga Komolafe, made the assertions shortly after he received an Award of Excellence from the Federal University of Petroleum Resources (FUPRE), Effurun in Delta State on Thursday evening.

Mr Komolafe, addressing journalists, said that the country’s current crude oil production capacity was within the neighbourhood of 2.2 million bpd, which had already exceeded OPEC’S quota.

He said that with the current 2.2 million bpd, the country has the capacity to surpass the OPEC quota.

Mr Komolafe ascribed the capacity to the improvement in general security services in the country as well as the collaborative efforts of stakeholders in the oil and gas industry.

He said the collaboration would be sustained in a manner that would ensure that crude oil theft was brought down.

“In recent times, there has been increase in the volume of crude oil production and decrease in oil theft.

“This could largely be ascribed to the general security services in the country, as well as the collaborative efforts of the stakeholders in the oil and gas industry.

“The effort of the general security services, collaborations between the Nigerian National Petroleum Company Limited, the regulators and the private security services have helped to curtail oil theft and upscaled our production,” he said.

Mr Komolafe said that the commission has the statutory mandate to increase the quantum of crude oil production in the country.

He noted that within the short time of its existence, the commission had received favourable feedback from the industry in terms of attracting investors’ confidence in the industry.

“We have been able to provide clarity in the activities of the industry.

“No investor will invest in a situation where there is acrimony.

“So, the commission is keen and doing everything possible to attract investors into the upstream,” Komolafe said.

The NUPRC chief executive said that human capital development was key to the development and optimisation of the nation’s hydrocarbon resources.

Kogi AD

Dangote adbanner 728x90_2 (1)
He commended FUPRE for supporting the federal government in developing the needed human capital to help develop the hydrocarbon resources.

“We will support and collaborate with FUPRE to ensure that the university continues to turn out the best in terms of human capital that will help in the development of our upstream resources.

“In terms of Corporate Social Responsibility (CSR), we will continue to collaborate with the university in providing infrastructure so that the standard for which the institution is known will continue to be sustained,” he said.

Mr Komolafe, while dedicating the award to the Board of the NUPRC and the commission’s management, said it would spur him to do more.

Earlier, the Vice-Chancellor of FUPRE, Akpofure Rim-Rukeh, said that the university was established in 2007 and began academic activities in 2008.

Mr Rim-Rukeh said that the institution had made a lot of in-roads into achieving its objectives over the years.

According to him, diversification is a good initiative by the federal government, but the oil industry is very relevant.

“The products that are coming out from the petrochemical industry today are awesome.

“We are prepared to reposition the oil industry; we are ready to face the challenges in terms of research and development,” Mr Rim-Rukeh said.

On the NUPRC delegation were NUPRC Board Chairman, Isa Modibbo; Sabo Lamido, executive commissioner, Finance and Account; Ben Ogunnubi, coordinator, NUPRC, Warri office and Rose Ndung, executive commissioner, Exploration and Acreages and among others.

The News Agency of Nigeria (NAN) reports that the award ceremony, which also had Seinye Briggs, Greg Ugbeifun and Kestin Pondi, among others as recipients, was powered by the African Child Foundation.(NAN)

The New Diplomat
The New Diplomathttps://newdiplomatng.com/
At The New Diplomat, we stand for ethical journalism, press freedom, accountable Republic, and gender equity. That is why at The New Diplomat, we are committed to speaking truth to power, fostering a robust community of responsible journalism, and using high-quality polls, data, and surveys to engage the public with compelling narratives about political, business, socio-economic, environmental, and situational dynamics in Nigeria, Africa, and globally.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

[tds_leads input_placeholder="Your email address" btn_horiz_align="content-horiz-center" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" pp_checkbox="yes" tdc_css="eyJhbGwiOnsibWFyZ2luLXRvcCI6IjMwIiwibWFyZ2luLWJvdHRvbSI6IjQwIiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tdG9wIjoiMTUiLCJtYXJnaW4tYm90dG9tIjoiMjUiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsImxhbmRzY2FwZSI6eyJtYXJnaW4tdG9wIjoiMjAiLCJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sImxhbmRzY2FwZV9tYXhfd2lkdGgiOjExNDAsImxhbmRzY2FwZV9taW5fd2lkdGgiOjEwMTksInBob25lIjp7Im1hcmdpbi10b3AiOiIyMCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3Njd9" display="column" gap="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTAiLCJsYW5kc2NhcGUiOiIxNSJ9" f_msg_font_family="downtown-sans-serif-font_global" f_input_font_family="downtown-sans-serif-font_global" f_btn_font_family="downtown-sans-serif-font_global" f_pp_font_family="downtown-serif-font_global" f_pp_font_size="eyJhbGwiOiIxNSIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_weight="700" f_btn_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_transform="uppercase" btn_text="Unlock All" btn_bg="#000000" btn_padd="eyJhbGwiOiIxOCIsImxhbmRzY2FwZSI6IjE0IiwicG9ydHJhaXQiOiIxNCJ9" input_padd="eyJhbGwiOiIxNSIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMCJ9" pp_check_color_a="#000000" f_pp_font_weight="600" pp_check_square="#000000" msg_composer="" pp_check_color="rgba(0,0,0,0.56)" msg_succ_radius="0" msg_err_radius="0" input_border="1" f_unsub_font_family="downtown-sans-serif-font_global" f_msg_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_weight="500" f_msg_font_weight="500" f_unsub_font_weight="500"]

Latest stories

Latest News
2027 Permutations: Enugu State Governor Peter Mbah Moves to APC Soon[PHOTOS] Akpabio Arrives in Rome, Pays Tribute at Pope Francis’s Lying-in-StateUS and China holding talks on trade war, Trump says after Beijing rebuttalDrama As Ododo's Government Shuts MTN Service in Kogi, Advises Residents On Other NetworksAtiku Breaks Silence on Okowa, Oborevwori's Defection from PDP to APCTribunal Upholds FCCPC's $220m Fine Against Meta, WhatsApp And Additional $35,000APC Accuses Atiku Of Triggering PDP's Crisis By Ignoring Party's Zoning ArrangementNwoko To Oborevwori: Embrace New Politics, Shun Deals That Led To Decline Of Delta PDPWhy Tinubu Approved Aso Rock's Switch From National Grid To Solar, FG Explains"I'm Honoured" Says Dangote After Appointment To World Bank Investment LabRamaphosa, Trump Meet Soon Over Strained South Africa-US Relations After Ambassador Rasool's ExpulsionEminent Scholar- Diplomat, Ibrahim Gambari Showers Accolades On Emir of Ilorin, Ibrahim Sulu-Gambari, on His 85th BirthdayRelief As NiMet Workers Call Off Strike After FG’s Brokered Truce'No Comment'...Reps Decline Response As Ibas Shuns Panel On Rivers Emergency Rule AgainPoverty Will Increase In Nigeria By 3.6% Over Next Five Years -- World Bank
X whatsapp