NNPC Pushes Back Against Criticism Over Oil Licensing Round
The Nigerian National Petroleum Company (NNPC) Limited has pushed back against criticism of its Group Chief Executive Officer, Bayo Ojulari, over the outcome of a recent oil licensing round.
In a statement, NNPC clarified that it does not have regulatory or allocative authority under the Petroleum Industry Act (PIA) 2021, which makes the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) responsible for conducting oil licensing rounds and allocating oil blocks.
The company highlighted a sustained growth in crude oil production under Ojulari's leadership. Average crude oil production rose from 1.60 million barrels per day (mbpd) in April 2025 to 1.67 million barrels per day by April 2026, representing a six percent increase.
The statement also noted that gas production improved during the same period, with average gas output increasing from 7,354 million standard cubic feet per day (mmscfd) in April 2025 to 7,729 mmscfd in April 2026, representing a five percent rise.