Nigeria’s Oil Production Reaches 159 Million Barrels in Four Months – NUPRC Data Reveals
Written by Jerry Alomatu on May 23, 2024
Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) indicates that Nigeria produced a total of 159,158,191 barrels of crude oil in the first four months of 2024.
In January, the country produced 44.2 million barrels of crude, averaging a daily production of 1.42 million barrels per day (mbpd). February saw a production of 38.3 million barrels, with an average of 1.32 mbpd, while March recorded 38.1 million barrels at a daily output of 1.23 mbpd. April witnessed a slight increase in daily production to 1.28 mbpd, with a total monthly production of 38.4 million barrels.
Comparatively, in the same period in 2023, Nigeria’s total oil output from January to April was 144.8 million barrels, indicating a significant increase of 14.3 million barrels in 2024. However, when compared to 2020, Nigeria’s crude oil production in the first four months of that year amounted to 215.2 million barrels, indicating a decrease of 56 million barrels in 2024.
Despite efforts to increase daily output, Nigeria has been grappling with low oil production. Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC), highlighted the adverse effects of oil theft and vandalism on the nation’s economy. Kyari emphasized that these activities deterred investments in the oil and gas sector.
Kyari expressed optimism about increased oil production, citing the removal of security challenges in onshore assets as crucial. He underscored the efforts to address security issues, including the removal of illegal connections from pipelines and dismantling illegal refineries.
According to Kyari, the country is inching towards a daily production of 1.7 mbpd. He attributed the increase to ongoing efforts to tackle security challenges in the oil sector, noting the impact of such challenges on production levels during the COVID-19 pandemic.
“On April 17, 2020, our production, without doing anything, without drilling new wells, shot to 2.2 mbpd. The difference was COVID-19. The thieves, the vandals, everybody went to sleep,” Kyari stated, highlighting the impact of external factors on oil production.
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Author: Jerry Alomatu
Astute communicator
