Crude Oil Production Levels at 1.745m BPD, FG Targets 2m mark

The Federal Government recently revealed that daily crude oil production levels are at 1.745 million barrels.

Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, who spoke on the topic at the opening of the 2025 Nigeria Oil and Gas (NOG) Energy Week in Abuja, also said that the target is a 2 million bpd mark by the end of 2025.

Lokpobiri urged NNPC Ltd. to aim higher and exceed the mark. “I urge the Nigerian National Petroleum Company Limited (NNPC Ltd.) to change its target ambition to producing above two million barrels by 2025,” he said.

He further highlighted a turnaround in the sector since 2023 due to improved policies and investor confidence, after a decade-long investment drought caused by legal and regulatory issues.

He also called on the National Assembly to reduce unnecessary summons of oil companies, especially on outdated procurement matters.

Meanwhile, Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, who also spoke at the NOG opening, noted that Nigeria has over 200 trillion cubic feet of proven gas reserves.

He emphasized the importance of developing and utilizing these resources to drive industrialization, boost power generation, expand LPG use, promote gas-powered transport, and increase exports.

This had manifested under the “Decade of Gas” initiative, he noted.

The 2025 NOG Energy Week Conference focuses on accelerating energy progress through investment, partnerships, and innovation.