Nigeria’s crude oil production reached an Unprecedented level of 1.35 million barrels per day in September 2023, marking the Highest Output recorded this year.
According to Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), this figure reflects a substantial increase of approximately 14% compared to August 2023.
The NUPRC’s Data reveals that in September, Nigeria Produced precisely 1,346,562 barrels per day, excluding condensates.
This significant increase of 165,429 barrels per day in comparison to the 1,181,133 barrels per day Produced in August signifies a remarkable Upswing in the Country’s Oil Production.
Oil outputs in Nigeria for the earlier months of the year were as follows: January (1,266,659 bpd), February (1,292,240 bpd), and March (1,266,737 bpd).
Subsequently, in April (1,004,392 bpd), May (1,189,332 bpd), June (1,260,928 bpd), and July (1,089,089 bpd), Nigeria’s Oil Production maintained a substantial Output.
The recent Surge in Crude Oil Production highlights Nigeria’s efforts to Bolster its Oil output, which has lagged behind the OPEC-approved quota of approximately 1.8 million barrels per day for the Country.
In related news, the NUPRC has expressed Optimism that the sale of Exxon Mobil’s assets to Seplat Energy may proceed.
Last year, the Regulator withheld approval for the $1.28 billion transaction, which is considered essential for attracting essential Investments into Nigeria’s Oil and Gas Sector.
Chief Executive of NUPRC, Gbenga Komolafe, conveyed his Optimism at Africa Oil Week in Cape Town, emphasizing the expectation that the Parties involved will revisit the Regulatory requirements by Nigerian Laws to facilitate the Deal.
