According to a report from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria’s production of crude oil, both blended and unblended, as well as condensate, reached 1.473 million barrels per day (bpd) in June.
Based on data from the regulatory body, oil production in the country saw a 3.14% increase from 1.42 million bpd in May of this year. Comparing it to the previous year, there was a 4.93% rise from 1.40 million bpd. The average crude oil production for the month was 1.24 million bpd, while blended and unblended condensate reached 55,088 bpd and 176,030 bpd, respectively.
Crude oil is a naturally occurring liquid extracted from the ground, while blended condensate is formed by mixing natural gas liquids. Unblended condensate remains in its pure form after being separated from raw natural gas.
Etulan Adu, an oil and gas production engineer, commented on the improved oil production figures, attributing them to the combined efforts of regulatory bodies, government security agencies, and private security firms in combating pipeline vandalism and oil theft. Adu highlighted that major trunk lines connecting to oil terminals in Nigeria have experienced steady flow, contributing to the increase in production.
The report also noted increased production at major oil terminals such as Qua Iboe, Forcados, and Escravos. Qua Iboe witnessed a rise from 1.9 million barrels to 4.1 million barrels, Forcados from 5.7 million barrels to 7 million barrels, and Escravos from 3.9 million barrels to 4.7 million barrels.
Adu emphasized that sustaining the current efforts and addressing industry loopholes would lead to substantial growth in meeting Nigeria’s current quota as a member of the Organization of the Petroleum Exporting Countries (OPEC). He emphasized the need for appropriate actions and investments to improve the pipeline infrastructure and upstream activities in order to achieve the government’s target of 1.8 million bpd.
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