Nigeria Meets OPEC Quota For 5th Consecutive Month

Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also shows that single day production hit a peak of 1.84m barrels in the month as Nigeria consolidated its position as Africa’s largest crude oil producer.

The lowest single day production in the month was 1.68 million barrels

In strict crude oil terms (excluding condensate), Nigeria produced an average of 1.53mobpd in the month under review. This constitutes 102% of the 1.5mobpd set by OPEC.

The crude oil data (excluding condensate) shows that Nigeria has for five consecutive months met its assigned OPEC quota, producing 1.53mobpd in May; 1.55mobpd in June; 1.51mobpd in July; 1.5mobpd in August and 1.53mobpd in September.

The improved performance was primarily driven by stable production operations across most producing assets and the absence of any major pipeline outages during the period under review. This enhanced operational stability supported improved production uptime and crude evacuation efficiency.

The sustained growth recorded in September reflects the continued commitment of operators and industry stakeholders towards improving operational efficiency, maintaining asset integrity, and enhancing production reliability across the Nigerian upstream petroleum sector.

A breakdown of the daily average crude oil and condensate production by terminals/streams during the review month shows that Forcados Terminal accounted for 320.32kbpd while Bonny Terminal followed with 303.27kbpd