Nigeria’s Crude Oil Production Surges Past OPEC Quota Amid Record Output Figures
Nigeria’s crude oil production has reportedly exceeded the 1.5 million barrels per day (bpd) limit set by the Organisation of the Petroleum Exporting Countries (OPEC), according to statements from the Nigerian National Petroleum Company Limited (NNPC) and the Nigerian Upstream Petroleum Regulatory Authority (NUPRC). The Chief Corporate Communications Officer of NNPC, Olufemi Soneye, addressed the figures in a recent statement, aiming to clarify any perceived inconsistencies in output data.
The NNPC and NUPRC figures had initially sparked speculation, with NUPRC citing production levels of 1.54 million bpd for September, compared to NNPC’s reported peak of 1.8 million bpd in October. Soneye attributed the seeming disparity to differing reporting periods, explaining, “The NNPC figure reflects peak production for October, while the NUPRC figure represents average output for September.”
Confirming the production increase, NUPRC Chief Executive Officer Gbenga Komolafe, represented by Executive Commissioner Enorense Amadasu at the recent Nigerian Association of Petroleum Explorationists Conference in Lagos, reported that crude and condensate output had indeed climbed by 16.56 percent month-on-month, from 1.54 million bpd in September to 1.8 million bpd in October.
“This represents an increase of 253,710 bpd,” noted Komolafe, “and has pushed Nigeria’s production above the 1.5 million bpd quota mandated by OPEC.” He further emphasised that this increase signifies progress toward Nigeria’s aim of achieving 2 million bpd by year’s end, an ambition strongly supported by the NNPC’s current production enhancement initiatives.
Despite these assurances, recent NUPRC data paints a mixed picture, with average crude production (excluding condensate) for September standing at 1.324 million bpd, while combined production with condensate reached 1.544 million bpd. In October, crude-only production averaged slightly higher at 1.33 million bpd, though still falling below the OPEC threshold, with total oil production (including condensate) settling at 1.538 million bpd.
These figures suggest a marginal dip from September’s total production levels, adding a layer of complexity to the NNPC’s reported October peak. As industry stakeholders look ahead, all eyes will be on November’s figures to see if Nigeria can consistently surpass the OPEC quota and maintain sustained output increases in line with its stated production targets.
