Thursday, April 18, 2024

Nigeria to Increase Crude Oil Production To 3MB/D- NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) Group Chief Executive Officer, Mele Kyari has informed that the country plans to raise crude oil production which now hovers around 1.6million barrels per day to 3mb/d, adding that the plan includes increasing the nation’s refining capacity to over 1mbpd.

According to Kyari, it includes expanding NNPCL Retail outlets to over 1,500 stations across sub-Saharan Africa.

Kyari said in the period in sight, the state – owned company will grow its renewable energy portfolio and optimise payment of dividends to shareholders.

The NNPCL boss made these known during the 2024 Women in Energy ,Oil and Gas (WEOG) Leadership Summit in Abuja.

The theme was: “Closing energy gaps in Nigeria by investing in women.”

Crude Oil Production, Price Benchmark, Possible–NNPC

He said: “Looking ahead to the next decade, we envision a Nigeria propelled by the oil and gas industry: monetization of our vast 203 Tcf gas resources, increasing crude oil production to 3 mbpd, raising domestic refining capacity to over 1 mbpd, expanding our retail network to over 1,500 stations across sub-Saharan Africa, growing our renewable energy portfolio, and optimizing dividend pay-outs to shareholders.”

The Chief Group Executive Officer said NNPCL goals are audacious and accomplishing them requires a multifaceted approach.

One of the most powerful strategies at the company ‘s disposal is investing in women.

According to him, women constitute a substantial portion of Nigeria’s population and workforce, yet they remain underrepresented in the energy sector.

Kyari said as “at Q4 2023, women represented 18.6% of our total workforce and 23.1% of our leadership.

” This is largely attributed to the low level of participation in Science, Technology, Engineering and Mathematics fields which is the major channel for our work force in the oil and gas industry.

“Studies have also shown that at the middle of the technical talent pipeline (which is middle to senior management levels), there is lagging progress for women which is greatly impacted by the degree of flexibility of work.”

He said at NNPC, the company has evaluated the challenges faced by women across different levels of our workforce and taken additional steps to address those.

He added that NNPCL focuses on several key strategic initiatives.

According to him, from coaching and mentoring to ensure our managers are effective leaders; to unlocking the full potential of flexible work.

Kyari said by empowering women and providing them with equal opportunities, NNPCL can unlock immense potential and drive meaningful change across the energy landscape.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

For Advert Placements, Email: info@ln247.news

Latest Articles