Nigeria’s oil production increases in June as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reports higher crude output versus May. NUPRC data released on Sunday shows average crude oil production (excluding condensates) rises to 1.56 million barrels per day (mbpd) in June from 1.53 mbpd in May, an increase of about 2–2.3%. Other figures in the NUPRC data show crude production also grows over preceding months: from 1.31 mbpd in February to 1.38 mbpd in March, 1.48 mbpd in April, and 1.53 mbpd in May. In June, NUPRC says Nigeria meets 104% of its 1.5 mbpd crude oil quota set by the Organisation of the Petroleum Exporting Countries (OPEC). The commission also states June crude production reaches the highest level recorded since April 2020, a 74-month high. NUPRC attributes the improved performance largely to stable operations across most producing assets and the absence of major pipeline outages, which improves uptime and crude evacuation efficiency. It also reports condensate production of 180,000 bpd in June, lifting combined crude and condensate output to about 1.74–1.89 mbpd in reported measures.
Nigeria’s crude output rises in June, exceeding OPEC quota
Nigeria’s oil production increases in June as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reports higher crude output versus May. NUPRC data released on Sunday shows average crude oi...
- NUPRC reports Nigeria’s average crude oil production (excluding condensates) rises to about 1.56 mbpd in June from about 1.53 mbpd in May.
- NUPRC says Nigeria meets about 104% of its 1.5 mbpd OPEC crude quota in June.
- Crude output rises over the preceding months from 1.31 mbpd in February to 1.38 mbpd in March, 1.48 mbpd in April and 1.53 mbpd in May.
- NUPRC says June crude output is the highest level recorded since April 2020 (74-month high).
- NUPRC links the increase to stable production operations and the absence of major pipeline outages, improving uptime and evacuation efficiency.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria’s crude oil production hit 1.56 million barrels per day (bpd) in June. In a statement on Sunday, NUPRC said the crude oil volume represents a 2 percent rise from 1.53 million bpd produced in May. The agency said the volume marked a positive growth for the fourth consecutive month. According to the commission, Nigeria’s crude oil production rose from 1.31 million bpd in February to 1.38 million bpd in March, 1.48 million bpd in April, and 1.53 million bpd in May. In June, NUPRC said Nigeria “met 104% of the 1.5mbpd crude oil production quota set by the Organisation and Petroleum Exporting Countries (OPEC)”. The statement noted that Nigeria’s crude oil production, excluding condensates, reached the highest level recorded since April 2020 — marking a 74-month high. In the month under review, the NUPRC said crude oil production hit 1.56 million bpd while 180,000 bpd of condensates was produced. Furthermore, the commission said crude oil and condensate production rose to an average of 1,735,398 bpd in June. “The statistics shows that Nigeria has maintained an upward trajectory, increasing from 1.483 mbpd in February to 1.546 mbpd in March, 1.663 mbpd in April, 1.700 mbpd in May, and 1.735 mbpd in June representing a 2.2% growth month on month,” the commission said. “In June, the peak combined crude oil and condensate production was 1.89mbpd, reflecting Nigeria’s potential to reach 2mbpd in the near term.” However, the commission said the lowest production was 1.57 million bpd for the period in review. According to the statement, the improved performance was largely driven by stable production operations across most producing assets. The commission said the performance was also due to the absence of any major pipeline outages during the period under review. The NUPRC said the enhanced operational stability boosted production uptime and improved crude evacuation efficiency.
10 hours agoData released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Sunday showed that average crude oil production, excluding condensates, increased to 1.56 million barrels per day in June from 1.53 million barrels per day in May. The post Nigeria’s daily oil production rises by 2.3% to 1.74mbpd appeared first on Vanguard News.
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