Nigeria produced 1.5 million barrels per day of crude oil in September 2023. This is the highest level of production since the start of the year.
This is according to data from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC). According to the NUPRC, the volume of crude oil pumped in September was 1.5 million barrels per day.
Also, it is important to note that the figure presented adds up as follows:
- Crude oil production: 1.3 million
- Blended condensate: 50,732
- Unblended condensate: 175,022
With the addition of crude oil and condensate production, the figure is 1.5 million barrels but without condensate production, it is 1.3 million; the latter is still the highest so far in 2023.
Recall that Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited has said that Nigeria’s condensate production should be added to monthly crude production figures and reported as such.
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Despite achieving the highest figures of oil production at 1.3 million bpd (excluding condensates) or 1.5 million bpd (including condensates) in 2023, Nigeria is still falling short of its 1.7 million bpd quota set by the Organization of the Petroleum Exporting Countries (OPEC).
Nigerian citizens have heard promises from major stakeholders like NNPCL and the Ministry of Petroleum Resources that the country will increase its oil production to meet the quota.
However, numerous challenges continue to hinder crude oil production within the country.
One of the major problems is crude oil theft. The Federal Government is collaborating with NNPCL, security agencies, and third-party security organizations like Tantita Security Limited to combat this issue.
Despite efforts, the problem of crude oil theft persists and keeps evolving with new dimensions emerging daily.
It is crucial to note that, despite plans by the Tinubu administration to transition to natural gas for various applications such as industrialization, transportation, clean cooking, and fertilizer production, gas supply remains unavailable due to crude oil theft.
The gas that should be extracted from associated gas that comes with crude is being diverted during theft, resulting in a loss of gas production for the country.
According to a recent report from NNPCL, Tantita Security officials discovered a vandalized offshore wellhead in a Delta State community. Intelligence revealed that foreign ships steal oil from these vandalized sites and sell the crude to neighbouring countries.
On a weekly basis, NNPCL records hundreds of crude oil theft incidents across the Niger Delta.
These incidents encompass illegal connections, illegal refineries, vessel arrests, and vessel AIS infractions, latest data reveals that within the first week of October 2023, the country recorded 128 crude oil theft cases in the Niger Delta region.