Connect with us
NUPRC Confirmed 1.8m bopd NNPC Ltd Oil Production Figures

‘No Disparity,’ NUPRC Confirmed 1.8m bopd NNPC Ltd Oil Production Figures At NAPE Conference

More Videos

Published

on

‘No Disparity,’ NUPRC Confirmed 1.8m bopd NNPC Ltd Oil Production Figures At NAPE Conference—-‘1.54m bopd production figure (quoted by THISDAY for October) is for September, not October,’ What NUPRC boss told highest body of petroleum explorationists and stakeholders in Lagos.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed the 1.8 million barrels of per day (bopd) production figures earlier released by the Nigerian National Petroleum Company Limited (NNPC Limited) at the conference organised by the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.

This newspaper, which reported the Commission boss, Gbenga Komolafe, to have said this to stakeholders, maintained that the development is contrary to a report making the round that the NUPRC contradicted the NNPC Ltd figures.

Speaking at the 42nd Nigerian Association of Petroleum Explorationists Annual International Conference & Exhibition in Lagos, Komolafe said that Nigeria’s crude oil output, including condensate, increased by 16.56 per cent to 1.8 million barrels per day, bpd in October 2024, from 1.54 million bpd in September 2024.

He said that as a result of this feat, Nigeria has exceeded the 1.5 million bpd quota of the Organisation of Petroleum Exporting Countries, OPEC.

“This represents an increase of 253,710,
bpd to reach 1.8 million bpd in October, up from 1.54 million bpd in September 2024, representing 16.56 per cent month-on-month rise,” he said.

Represented by Enorense Amadasu, Executive Commissioner for Development and Production at NUPRC, the NUPRC boss declared that efforts were underway to further increase oil output to two million bpd by December 2024.

Highlighting the theme of the conference, “Resolving the Nigerian Energy Trilemma: Energy Security, Sustainable Growth and Affordability”, Komolafe, said the organization is committed to expanding Nigeria’s oil production capacity.

Checks by this newspaper showed that this is the same position of the NNPC Ltd, which said it and its partners have revved up crude oil and gas production to 1.8 million barrels per day (mbpd) and 7.4billion standard cubic feet (bscf) per day.

The company announced this at a press briefing, maintaining that the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.

This newspaper gathered that these figures are, contrary to misconstrued report, the same with the ones announced by the NUPRC.

Disparity Where There Is None

A THISDAY review of the delayed October production figures by the NUPRC, which is the oil and gas sector upstream regulator, claimed that Nigeria produced 1.538 million bpd of crude oil and condensate.

The three-month low production data released by the NUPRC, the report claimed, contradicted the report announced by the national oil company and the Ministry of Petroleum Resources (Oil), which specifically put production at 1.808 million bpd.

Looking Beyind 1.8m bopd

Speaking on the development, the Group Chief Executive Officer, Mr. Mele Kyari, who reiterated that the Company revved up oroduction to 1.8 m bopd, declared the target to even increase the production to 2 million bopd.

Kyari congratulated the Production War Room Team that anchored the production recovery process.

“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders based on the mandates that we have from the President, the Honourable Minister, and the Board,” Kyari explained.

Giving details of the efforts of the Production War Room, the Chief War Room Coordinator, and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.

He said the interventions led to the recovery of production cut across every segment of the production chain with security agencies closely monitoring the pipelines.

He stressed that when the Production War Room team was inaugurated on the 25th June 2024, production was at 1.430mbpd, but the team swung into action, culminating into it sustaining the production recovery to 1.7mbpd in August and hitting the current 1.808mbpd in November.

“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2mbpd by the end of the year,” he stated.

Also speaking on the development, Chairman of the NNPC Ltd Board of Directors, Chief Pius Akinyelure, who also congratulated the team, said he was happy to be part of the production recovery process, adding: “today, I will leave this place with my heart full of joy”.

He charged the Company’s Management to come up with a cashflow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3mbpd.

Facebook 0 Twitter/X 0 LinkedIn0 WhatsApp0 0Shares
Continue Reading
Click to comment

Leave a ReplyCancel reply

Sports

Manchester City Found Guilty of 114 Financial Charges as Sanctions Remain Undecided

Published

on

Manchester City Found Guilty of 114 Financial Charges as Sanctions Remain Undecided—-An independent commission has reportedly ruled against Manchester City on all but one of the Premier League’s financial charges, but sanctions are yet to be decided as the club prepares to appeal.

Manchester City have reportedly been found guilty on 114 of the 115 financial charges brought against them by the Premier League, according to reports from The Athletic and The Times, in a major development that could have significant consequences for English football.

The verdict comes more than three years after the Premier League formally charged Manchester City following a lengthy investigation into the club’s finances.

An independent commission is understood to have reached its decisions on the allegations, which cover several seasons dating back to the 2009-10 campaign. City have consistently denied wrongdoing throughout the case.

However, no sanction has yet been decided.

Reports indicate that Manchester City are expected to appeal the findings, meaning the long-running case is now moving into another stage. Sky Sports reports that the process is moving towards an appeal, while the Premier League has declined to comment because the proceedings remain private and confidential.

What Were Manchester City Accused Of?

The Premier League’s original case against City included allegations that the club failed to provide accurate financial information over a nine-year period.

The charges included alleged failures to accurately report revenue, operating costs and sponsorship income, as well as allegations concerning payments made to players and managers.

The Premier League also accused City of breaches relating to UEFA’s Financial Fair Play regulations and its own Profitability and Sustainability Rules.

A separate set of allegations concerned the club’s alleged failure to cooperate with the Premier League’s investigation.

The case was formally referred to an independent commission in February 2023 after a Premier League investigation that lasted several years.

City Maintain Their Position

Manchester City have repeatedly rejected the allegations and continue to maintain their position that the process has not yet been completed.

Following reports of the verdict, a City spokesperson said the Premier League process remains ongoing, with significant elements still to be completed and subject to strict confidentiality. The club also reiterated its previous position from February 2023.

The Premier League has also refused to publicly confirm the reported findings.

A league spokesperson told Reuters: “It’s a confidential process, we’re not commenting at all.”

Sanctions Yet to Be Decided

Despite the reported guilty findings, Manchester City have not been punished at this stage.

The exact sanctions, if any, will depend on the next stage of the proceedings. Possible punishments discussed during the case have included financial penalties and sporting sanctions, but no specific punishment has been confirmed.

That means there is currently no confirmed points deduction, relegation, expulsion or stripping of previous titles.

Any such outcome would have to come through the formal disciplinary process and could also be affected by City’s expected appeal.

Appeal Could Extend the Case

The reported verdict is therefore not necessarily the final word on the matter.

Manchester City are expected to challenge the findings, with Sky Sports reporting that the inquiry is moving towards the appeal stage.

The original hearing lasted 12 weeks, concluding in December 2024, after which the independent commission spent considerable time considering the extensive evidence.

The case has become one of the most significant financial disputes in Premier League history, with the outcome potentially affecting the club’s sporting and financial standing.

For now, the key development is the reported 114 guilty findings from 115 charges.

But with sanctions still undecided, the verdict not publicly released by the Premier League and an appeal expected, Manchester City’s lengthy financial case is far from over.

Facebook 0 Twitter/X 0 LinkedIn0 WhatsApp0 0Shares
Continue Reading

News

Unlocking Website Potential: How Emdash Theme Can Transform Your Online Presence

Published

on

In today’s digital landscape, a strong online presence is no longer optional – it’s essential for success. Your website serves as the virtual storefront of your business, and first impressions matter. A poorly designed or outdated website can deter potential customers and damage your credibility. This is where selecting the right WordPress theme becomes crucial, and I’ve found Emdash to be a particularly powerful and versatile option.

Emdash theme stands out for its clean design, user-friendly interface, and extensive customization options. Whether you’re a seasoned developer or a novice user, Emdash makes it easy to create a professional-looking website that reflects your brand identity. Its responsive design ensures that your website looks great on any device, from desktops and laptops to tablets and smartphones. In a world where mobile browsing is increasingly prevalent, this is a non-negotiable feature.

One of the most significant advantages of Emdash is its flexibility. It offers a wide range of pre-built templates and layouts, which can be easily adapted to suit your specific needs. Whether you’re building a blog, an e-commerce store, or a portfolio website, Emdash provides the tools you need to get the job done. The theme is also highly customizable, allowing you to change colors, fonts, and other design elements to match your brand aesthetic.

Beyond its aesthetic appeal, Emdash is also designed with performance in mind. It’s optimized for speed and SEO, ensuring that your website loads quickly and ranks well in search engine results. This is crucial for attracting organic traffic and improving your online visibility. A slow-loading website can frustrate visitors and lead to high bounce rates, which can negatively impact your search engine rankings.

Furthermore, Emdash boasts excellent documentation and customer support. If you ever run into any issues or have questions about the theme, you can rely on their comprehensive documentation or reach out to their support team for assistance. This is a valuable asset, especially for those who are new to WordPress or website development.

In my experience, Emdash has been a game-changer for many of my clients. It has allowed them to create stunning websites that effectively showcase their products and services. It’s a theme that strikes the perfect balance between design, functionality, and ease of use. If you’re looking for a WordPress theme that can help you transform your online presence, I highly recommend giving Emdash a try. You can find more information about the this theme at https://emdashtheme.org.

In today’s digital landscape, a strong online presence is no longer optional – it’s essential for success. Your website serves as the virtual storefront of your business, and first impressions matter. A poorly designed or outdated website can deter potential customers and damage your credibility. This is where selecting the right WordPress theme becomes crucial, and I’ve found Emdash to be a particularly powerful and versatile option. Emdash theme stands out for its clean design, user-friendly interface, and extensive customization options. Whether you’re a seasoned developer or a novice user, Emdash makes it easy to create a professional-looking website that reflects your brand identity. Its responsive design ensures that your website looks great on any device, from desktops and laptops to tablets and smartphones. In a world where mobile browsing is increasingly prevalent, this is a non-negotiable feature. One of the most significant advantages of Emdash is its flexibility. It offers a wide range of pre-built templates and layouts, which can be easily adapted to suit your specific needs. Whether you’re building a blog, an e-commerce store, or a portfolio website, Emdash provides the tools you need to get the job done. The theme is also highly customizable, allowing you to change colors, fonts, and other design elements to match your brand aesthetic. Beyond its aesthetic appeal, Emdash is also designed with performance in mind.

Facebook 0 Twitter/X 0 LinkedIn0 WhatsApp0 0Shares
Continue Reading

Trending

Facebook 0 Twitter/X 0 LinkedIn0 WhatsApp0 0Shares