Find Articles

Loading...
0
Light Dark

Nigeria’s Oil Production Hits Six-Year High, Surpasses OPEC Quota Again

Nigeria recorded another increase in crude oil production in June, surpassing its Organisation of the Petroleum Exporting Countries (OPEC) quota for the second consecutive month as output climbed to its highest level in more than six years.

New figures released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that the country produced an average of 1.56 million barrels of crude oil per day during the month, up from 1.53 million barrels recorded in May. The latest output represents 104 per cent of Nigeria’s OPEC allocation of 1.5 million barrels per day and marks the country’s strongest performance since April 2020.

When condensates are included, Nigeria’s total oil production reached an average of 1.74 million barrels per day in June, compared with 1.70 million barrels in the preceding month, reflecting a 2.3 per cent increase. According to the regulator, the country produced an average of 1,735,398 barrels per day during the period, extending a steady growth trend that has lasted four consecutive months.

Production levels have continued to rise since the beginning of the year, increasing from 1.48 million barrels per day in February to 1.55 million in March. Output climbed further to 1.66 million barrels in April before reaching 1.70 million barrels in May and 1.74 million barrels in June.

The NUPRC attributed the improvement to stable operations across key oil-producing assets and the absence of major pipeline disruptions, factors that helped boost production efficiency and ensure smoother evacuation of crude. Although some facilities experienced temporary shutdowns, the commission said the interruptions had little impact on overall output, while scheduled maintenance activities were completed without significant setbacks.

According to the regulator, the sustained rise in production reflects efforts by operators and other stakeholders to strengthen operational efficiency, maintain infrastructure and improve reliability in the upstream petroleum sector.

The commission also disclosed that Nigeria’s highest daily production level in June reached 1.89 million barrels per day, while the lowest output recorded during the month stood at 1.57 million barrels per day. The figures suggest that the country is gradually moving closer to its long-standing target of producing two million barrels per day.

Among the country’s export terminals, Bonny recorded the highest average production in June at 318,280 barrels per day, improving on the 293,880 barrels posted in May. Forcados followed with 306,360 barrels per day, while Qua Iboe produced 164,730 barrels daily despite recording a slight decline from the previous month.

Escravos increased production to 138,030 barrels per day, while Bonga rounded out the top five terminals with an average output of 103,660 barrels per day

Emmanuel Ezeana

    Leave a Reply

    Your email address will not be published. Required fields are marked *