Key Points
- The Petroleum Technology Association of Nigeria (PETAN) is calling for a significant increase in oil and gas production to protect national interests.
- Chairman Wole Ogunsanya noted that reported production plans and the potential exit of the UAE from OPEC+ could weaken the group’s quota discipline.
- Nigeria is targeting a production goal of three million barrels per day within the next five years.
- Higher output is expected to strengthen foreign exchange earnings and provide a steady supply for expanding domestic refinery operations.
- The 2026 Offshore Technology Conference (OTC) in Houston is currently focused on Africa’s energy transformation, technology, and local capacity.
Main Story
At the 2026 Offshore Technology Conference in Houston, PETAN Chairman Wole Ogunsanya warned that major shifts within OPEC+ could upset the global balance between consumers and producers.
Reacting to reports of the United Arab Emirates’ imminent exit from the alliance, Ogunsanya emphasized that Nigeria must prioritize its own fiscal stability by ramping up production.
He argued that regardless of global price fluctuations, consistent production is essential because “the world will continue needing aviation fuel, petrol, and diesel”.
Ogunsanya highlighted the success of the Dangote Refinery, which has already begun exporting aviation fuel to international markets like the United States, as a reason to secure steady crude supply.
He described the current volatility as a “strategic wake-up call” for Nigeria to resolve logistical challenges that have previously caused cargo delays. To stay competitive, the association maintains that Nigeria must focus on consistent marketing of its premium crude to dependable customers.
The Issues
- Major shifts by key OPEC+ players like the UAE could “upset the balance” of global price stability.
- Falling global prices could “threaten exports” if Nigeria lacks stronger planning and market preparation.
- Logistical and contractual challenges have historically caused “cargo delays,” damaging buyer confidence.
- High production levels from the “United States and Russia” continue to influence global output and price points.
What’s Being Said
- “Nigeria must focus firmly on its national interest. We need three million barrels daily within five years.” — Wole Ogunsanya
- “Quota allocations mean little without dependable customers. Nigeria has premium crude, but it must be marketed consistently.” — Wole Ogunsanya
- “Whatever happens to prices, production must remain steady.” — Wole Ogunsanya
- “If buyers doubt delivery, they will simply look elsewhere.” — Wole Ogunsanya
What’s Next
- Nigeria will need to address “logistical and contractual challenges” to ensure on-time delivery of crude to international buyers.
- Energy stakeholders will monitor the impact of the “UAE’s production plans” on OPEC’s overall quota discipline.
- Continued focus on the “Dangote Refinery’s exports” will serve as a benchmark for the success of domestic refining and value-added exports.
- The industry will evaluate progress toward the “three million barrels daily” goal over the next five-year window.
Bottom Line
Output Focus. PETAN is urging a rapid increase in domestic oil production to three million barrels per day to safeguard Nigeria’s economy against potential instability within the OPEC+ alliance and to fuel the country’s growing refining sector.
