Nigeria Ramps Up Crude Output, Meets OPEC Quota for Five Straight Months

• Oil, condensate production rise 2.34% to 1.72 million bpd 

•Forcados, Bonny lead terminal output

Nigeria sustained its recovery in crude oil production in September, meeting its Organisation of Petroleum Exporting Countries (OPEC) quota for the fifth consecutive month.

A statement in Abuja by the spokesman of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Eniola Akinkuotu, said daily output also peaked at 1.84 million barrels, including condensates.

The country recorded an average daily production of 1,717,030 barrels of crude oil and condensate during the month, representing a 2.34 per cent increase over August, according to the data released by the NUPRC.

The September performance further consolidated Nigeria’s position as Africa’s largest crude oil producer, with production reaching 1.84 million barrels on the highest-output day and falling to a low of 1.68 million barrels during the period.

Excluding condensates, Nigeria produced an average of 1.53 million barrels of crude oil per day, exceeding its OPEC-assigned quota of 1.5 million barrels per day by approximately 2 per cent.

The latest figures mean Nigeria has now met its crude oil production quota for five consecutive months, sustaining output above or at the assigned threshold despite the operational challenges that have historically constrained production in the country.

Crude oil production stood at 1.53 million barrels per day in May before rising to 1.55 million barrels per day in June. Output subsequently moderated to 1.51 million barrels per day in July and 1.5 million barrels per day in August before recovering to 1.53 million barrels per day in September.

The improvement in September was attributed to stable operations across most producing assets and the absence of major pipeline outages during the month.

According to the commission, the relative stability enhanced production uptime and improved the efficiency of crude oil evacuation, helping operators sustain output across the upstream petroleum sector.

The commission said the sustained growth reflected the commitment of operators and other industry stakeholders to improving operational efficiency, maintaining asset integrity and strengthening production reliability.

Nigeria has faced persistent difficulties in achieving its production potential, including crude oil theft, pipeline vandalism, ageing infrastructure and disruptions to production and evacuation. Sustaining output above the OPEC quota could therefore help strengthen crude oil export volumes and government revenue, provided the improved performance is maintained.

A breakdown of production by terminals and streams showed that Forcados Terminal recorded the highest average daily output in September, accounting for 320,320 barrels per day. Bonny Terminal followed with 303,270 barrels per day, according to the NUPRC data.

The September figures highlighted the steady return of operational stability and uninterrupted evacuation infrastructure in sustaining Nigeria’s recent production gains.

Nigeria has set an ambitious target of raising crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030 as part of efforts to maximise its petroleum resources, boost foreign exchange earnings and strengthen government revenue.

Despite the recent improvement, achieving the targets will require a significant increase in production capacity. September’s average crude oil output of 1.53 million barrels per day, excluding condensates, remains about 470,000 barrels short of the two million-barrel target and 1.47 million barrels below the 3 million barrel ambition.