NUPRC records fourth consecutive monthly increase, says production reaches highest level in over six years…..
Nigeria’s crude oil production increased to 1.56 million barrels per day (bpd) in June, marking a continued recovery in the country’s oil output, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
In a statement issued on Sunday, the commission said the June figure represents a two per cent increase from the 1.53 million bpd recorded in May.
NUPRC said the latest performance marked the fourth consecutive month of growth in crude oil production, with output steadily improving from 1.31 million bpd in February to 1.38 million bpd in March, 1.48 million bpd in April and 1.53 million bpd in May.
The commission said Nigeria exceeded its crude oil production quota set by the Organisation of Petroleum Exporting Countries (OPEC), achieving 104 per cent of the 1.5 million bpd target for June.
It added that crude oil production excluding condensates reached its highest level since April 2020, representing a 74-month high.
According to the regulator, Nigeria produced 1.56 million bpd of crude oil in June, alongside 180,000 bpd of condensates.
Combined crude oil and condensate production averaged 1,735,398 bpd during the month, continuing the upward trend recorded since February.
“The statistics shows that Nigeria has maintained an upward trajectory, increasing from 1.483 mbpd in February to 1.546 mbpd in March, 1.663 mbpd in April, 1.700 mbpd in May, and 1.735 mbpd in June representing a 2.2% growth month on month,” the commission said.
NUPRC added that peak combined crude oil and condensate production reached 1.89 million bpd in June, indicating that Nigeria could achieve the two million bpd production mark in the near future.
However, the commission noted that the lowest production level recorded during the period stood at 1.57 million bpd.
The regulator attributed the improved output to stable operations across major producing assets and the absence of significant pipeline disruptions during the period.
It said the operational stability helped increase production uptime and improve the efficiency of crude oil evacuation across the country.
