Nigeria meets OPEC quota for fifth consecutive month

Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also showed that daily production peaked at 1.84 million barrels in September, as Nigeria consolidated its position as Africa’s largest crude oil producer. The lowest daily production recorded during the month was 1.68 million barrels.

In terms of crude oil alone, excluding condensates, Nigeria produced an average of 1.53 million barrels per day (bpd) during the month under review, representing 102 per cent of the 1.5 million bpd quota set by the Organisation of the Petroleum Exporting Countries (OPEC).

The crude oil data, excluding condensates, showed that Nigeria had met its assigned OPEC quota for five consecutive months, producing 1.53 million bpd in May, 1.55 million bpd in June, 1.51 million bpd in July, 1.5 million bpd in August and 1.53 million bpd in September.

The improved performance was 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.

The sustained growth recorded in September reflected the continued commitment of operators and industry stakeholders to improving operational efficiency, maintaining asset integrity and enhancing production reliability across Nigeria’s upstream petroleum sector.

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.