ADIPEC 2026: NNPC Raises Oil Output by 600,000bpd, Targets 2 Million by 2027 — Ojulari

By Pan Afric Reporters

The Nigerian National Petroleum Company Limited (NNPC Limited) has increased Nigeria’s crude oil production by 600,000 barrels per day (bpd), from about 1.2 million bpd to 1.8 million bpd, as ongoing reforms reposition the country to attract fresh international energy investments.

The development was disclosed in a press release issued on Tuesday, November 3, 2026, by NNPC Limited and signed by its Chief Corporate Communications Officer, Andy Odeh, following remarks by the Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the United Arab Emirates.

Speaking during an Energy Talk titled “Nigeria’s Reform Agenda: Competing for Energy Capital,” moderated by John Defterios, Chairman, MENA, APCO, Ojulari attributed the production increase to the implementation of the Petroleum Industry Act (PIA) 2021, an improved investment climate, better investment decisions and stronger collaboration between NNPC Limited and its partners.

He said the company was working towards achieving the two-million-barrels-per-day production target by 2027 through infrastructure maintenance, protection of existing production and execution of new projects.

“The figure of 1.8 million barrels per day is a stage in a journey towards our objective. We are concentrating on the basics, which are maintaining our infrastructure, protecting base operations and executing the projects that will take production higher,” Ojulari stated.

On domestic energy reforms, the NNPC GCEO said the removal of petrol subsidy had been accompanied by an extensive compressed natural gas (CNG) programme, with more than 400 conversion centres established and over 1,000 petroleum-product trucks now operating on CNG.

He also disclosed that the Obiafu-Obrikom-Oben (OB3) gas pipeline was completed in August 2026, while the Ajaokuta-Kaduna-Kano (AKK) pipeline is expected to deliver gas to Abuja before the end of the year to support power generation, data centres and industrial hubs.

Ojulari said the company’s Board and management were committed to meeting the projections outlined in its mandate from President Bola Ahmed Tinubu, adding that a baseline assessment of its assets and infrastructure had provided a clearer understanding of its operational strengths and areas requiring improvement.

“Our track record will be judged by what is done and not by what is said,” he stated.

On regional gas development, Ojulari said countries involved in the Nigeria-Morocco Gas Pipeline had aligned and executed the necessary agreements, while Nigeria, Algeria and Niger had also aligned on the Trans-Saharan Gas Pipeline project.

He said NNPC Limited was targeting national gas production of 10 billion standard cubic feet per day (Bcf/d) by 2027 and 12 Bcf/d by 2030, driven by the expansion of domestic and export markets.

The GCEO further cited major investment projects, including TotalEnergies’ Ubeta, Shell’s Bonga South-West and Eni’s Zabazaba developments, noting that commercial agreements covering approximately $20 billion in investments had been concluded.

He added that NNPC Limited was establishing new partnerships with energy investors, including ADNOC and Chinese investors in Nigeria’s refineries, while working with global service companies to expand local service capacity.

Ojulari reaffirmed the company’s commitment to transparency and execution excellence, citing two consecutive earnings calls held by NNPC Limited.

The 2026 ADIPEC, hosted by ADNOC under the patronage of UAE President, Sheikh Mohamed bin Zayed Al Nahyan, brought together more than 239,000 participants from over 170 countries, including ministers, chief executives, investors and technology leaders, to deliberate on energy security, investment and supply.