Latest figures obtained from the Nigerian Upstream Petroleum
Regulatory Commission, on Wednesday, showed that the country’s output in
September was about 14 per cent higher than what it pumped in the preceding
month of August 2023.
Data from the commission indicated that in September,
Nigeria’s crude oil production (excluding condensates) was precisely 1,346,562
barrels per day, which was a 165,429bpd increase when compared to the
1,181,133bpd produced in August this year.
Further analysis of figures obtained from the NUPRC
indicated that in January, February and March, the country’s oil outputs were
1,266,659bpd; 1,292,240bpd; and 1,266,737bpd respectively.
In the months of April, May, June and July, Nigeria produced
1,004,392bpd; 1,189,332bpd; 1,260,928bpd; and 1,089,089bpd respectively.
The above crude oil production figures therefore showed that
Nigeria’s oil production in September was the highest output so far recorded by
the country this year.
The Federal Government has been making concerted efforts to
shore-up the country’s oil production, which is far below the about 1.8 million
barrels per day quota approved for Nigeria by the Organisation of Petroleum
Exporting Countries.
In another development, the NUPRC said it was very
optimistic that Exxon Mobil’s asset sale to Seplat Energy could move forward.
NUPRC’s Chief Executive, Gbenga Komolafe, disclosed this to
Reuters on Wednesday on the sidelines of Africa Oil Week in Cape Town.
The regulator last year refused to approve the $1.28bn sale,
a deal some in the industry say was key to getting much-needed investment into
Nigeria’s oil and gas sector.
“We are very optimistic that parties to the transaction will
go back, look at the position of the regulator and come back by abiding by the
provisions of Nigerian laws and the right thing will be done,” Komolafe stated.
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