From Adewale Sanyaolu, Houston, Texas
The Federal Government has set a new ambitious target of 2.5 million barrels per day (bpd) oil production target for the new management of the Nigerian National Petroleum Company (NNPC) Limited by year-end.
The Minister of State for Petroleum Resources (Oil), Heineken Lokbobiri, stated this in an interview on the sidelines of the Oil Technology Conference(OTC) Africa Energy Forum(AEF) with the theme “Africa’s Energy Investment Drive Amid Global Transition to Green Minerals and Clean Energy” in Houston, Texas.
The Minister said that while President Bola Tinubu gave the new NNPC management a mandate to grow oil production to two million barrels by this year, he has increased the target to 2.5 million bpd
“When the new NNPC management visited me, I increased their oil production target to 2.5 million bpd from the initial two million barrels given to them by the President,” he stated.
Lokpobiri said he believed the target set by the President could be met and surpassed because, during the COVID-19 pandemic, when there were no new investments, oil production grew to 2.5 million bpd.
“The 2.5 million bpd oil production is easily realisable because all the bottlenecks against our oil production are being addressed.
For over 10 years, he said there was no new investment in the oil and gas sector, saying the story has changed today as a result of the reforms of President Bola Tinubu.
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