Nigerian National Petroleum Company (NNPC) Limited says Nigeria’s crude oil production level (including condensate) is currently at 1.67 million barrels per day (bpd).

Mele Kyari, group chief executive officer (GCEO) of NNPC, spoke at a press briefing in Abuja on Friday.

In July 2023, the country’s crude oil (and condensate) output fell to 1.29 million barrels per day (bpd), from 1.48 million bpd the previous month.

Giving updates at the news conference, Kyari said oil production increased by over 300,000 bpd.

He said the oil and gas industry has a huge potential and the possibilities of providing all the foreign exchange (FX) requirements of the country.

“But you cannot do this except you are able to produce and also take it to the market, because we did have substantial challenges of security, which I also confirm this moment that Mr. President has re-engineered the security approach and we are already seeing very significant changes in our production environment,” he said.

“May I also use this opportunity to say that I was just checking the data for Wednesday. The actual data for crude oil and condensate production is at 1.67 million barrels per day.

“This is substantial, if you look at the situation where we were almost going below a million barrels some months ago. This is quite substantial. And the connection of this to subsidy was that you cannot give what you do not have.”

The Cable