By Abubakar Yunusa
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria’s crude oil production hit 1.56 million barrels per day (bpd) in June.
NUPRC,in a statement 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.
