The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that Nigeria’s crude oil production increased to 1.35 million barrels per day in September 2023…CONTINUE READING>>>...CONTINUE READING THE FULL ARTICLE>>>
This represents a massive 43.59% increase when compared to the 937,766 barrels per day reported in September 2022.
On month-on-month, September production data is about 14 per cent higher than what it pumped in the preceding month of August 2023.
According to the commission’s data, Nigeria’s crude oil production (excluding condensates) in September stood at a precise 1,346,562 barrels per day.
This marked a notable increase of 165,429 barrels per day compared to the August production figure of 1,181,133 barrels per day, Punch reports.
What this indicates is that the federal government is gradually winning the battle against crude oil theft in oil-producing communities.
Nigeria’s oil production trend
Legit.ng’s analysis of NUPRC oil production data obtained from its website shows that the last time Nigeria’s oil production touched 1.3 million barrels per day was in January 2023, which was 20 months ago when a 1.39 million barrels daily average was recorded.
Since then, there has been downward trend in production, resulting in Nigeria losing its position as Africa’s largest oil producer at some point among Organisation of Petroleum Exporting Countries (OPEC) countries in Africa
Breakdown of Nigeria’s crude oil production in 2023
Further analysis of figures obtained from the NUPRC indicated that in January, February and March, the country’s oil 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 above crude oil production figures therefore showed that Nigeria’s oil production in September was the highest output so far recorded by the country this year.
While the improvement is massive it is far below the about 1.8 million barrels per day quota approved for Nigeria by the OPEC.
NNPC speaks on plans to relocate headquarters from Abuja to Lagos
Meanwhile, in another report, the NNPCL has also reacted to reports that there are plans to relocate the headquarters from Abuja to Lagos.
Mele Kyari, the Group Chief Executive Officer (GCEO) of NNPC Limited, clarified when responding to questions from lawmakers.
The headquarters of NNPC consists of four identical towers; the complex is located on Herbert Macaulay Way, Central Business District Abuja…CONTINUE READING>>>
