Nigeria's crude oil production has consistently met its Organisation of the Petroleum Exporting Countries (OPEC) quota for five consecutive months, driven by stable production operations and the absence of major pipeline outages. According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country's daily production peaked at 1.84 million barrels in September. This includes condensates, which are a type of light hydrocarbon.
In terms of crude oil alone, excluding condensates, Nigeria produced an average of 1.53 million barrels per day (bpd) during September, representing 102 per cent of the 1.5 million bpd quota set by OPEC. This performance is a significant improvement from previous months, with production levels of 1.53 million bpd in May, 1.55 million bpd in June, 1.51 million bpd in July, and 1.5 million bpd in August.
The improved performance is primarily driven by stable production operations across most producing assets and the absence of major pipeline outages during the period under review. This operational stability supported improved production uptime and crude oil evacuation efficiency. As a result, Nigeria has consolidated its position as Africa's largest crude oil producer.
A breakdown of average daily crude oil and condensate production by terminal or stream during the review month showed that Forcados Terminal accounted for 320.32 thousand barrels per day (kbpd), followed by Bonny Terminal with 303.27 kbpd. The sustained growth recorded in September reflected the continued commitment of operators and industry stakeholders to improving operational efficiency.
The lowest daily production recorded during September was 1.68 million barrels. Despite fluctuations in production levels, Nigeria's upstream petroleum sector has demonstrated a commitment to enhancing production reliability. The country's oil production has been steadily increasing, driven by investments in new projects and the optimization of existing ones.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is responsible for monitoring and regulating the country's oil and gas production. The commission's data provides valuable insights into the performance of Nigeria's upstream petroleum sector. The data also highlights the importance of stable production operations and the need to prevent major pipeline outages.
Nigeria's ability to meet its OPEC quota for five consecutive months is a significant achievement, driven by the efforts of operators and industry stakeholders to improve operational efficiency and maintain asset integrity. The country's oil production is expected to continue to play a critical role in the global energy market, with Nigeria remaining a key player in the OPEC alliance.
Key points
- Nigeria's daily crude oil production averaged 1.53 million barrels per day in September, meeting its OPEC quota for the fifth consecutive month.
- The improved performance is primarily driven by stable production operations across most producing assets and the absence of major pipeline outages.
- Nigeria has consolidated its position as Africa's largest crude oil producer, driven by investments in new projects and the optimization of existing ones.
