May 22, 2024
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OIL & GAS

Nigeria’s Oil Production Hits 1.35 Million bpd

Latest figures obtained from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), on Wednesday, showed that the country’s crude oil output in September was about 14 per cent higher than what it pumped in the preceding month of August 2023.

The output rose to an all-time high of 1.35 million barrels per day in September 2023, the highest output so far recorded by the country this year, the Punch reports.

Data from the commission indicated that in September, Nigeria’s crude oil production (excluding condensates) was precisely 1,346,562 barrels per day, which was a 165,429bpd increase when compared to the 1,181,133bpd produced in August this year.

The report explained that analysis obtained from the NUPRC indicated that in January, February and March, the outputs were 1,266,659bpd; 1,292,240bpd; and 1,266,737bpd respectively.

In the months of April, May, June and July, Nigeria produced 1,004,392bpd; 1,189,332bpd; 1,260,928bpd; and 1,089,089bpd respectively.

The Nigerian government targets 1.8 million barrels per day quota approved by the Organisation of Petroleum Exporting Countries (OPEC).

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