Nigeria Meets OPEC Quota for Fifth Straight Month in September With 1.53mbpd

By Adedapo Adesanya

Nigeria met its Organisation of the Petroleum Exporting Countries (OPEC) crude oil production quota for the fifth consecutive month in September, with average output reaching 1.53 million barrels per day.

According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in a statement on Tuesday, the country’s average crude oil production, excluding condensates, exceeded its OPEC quota of 1.5 million barrels per day by two per cent.

Nigeria’s crude oil production stood at 1.53 million bpd in May, 1.55 million barrels per day in June, 1.51 million barrels per day in July, 1.5 million bpd in August and 1.53 million barrels per day in September.

The regulator said daily production, including condensates, peaked at 1.84 million barrels in September, while the lowest daily output recorded during the month was 1.68 million barrels.

According to the commission, the improved performance was driven largely by stable operations across most producing assets and the absence of major pipeline outages during the period.

It said the stability improved production uptime and crude oil evacuation efficiency, contributing to sustained output across the country’s upstream petroleum sector.

The regulator added that the September performance reflected the commitment of oil industry operators and other stakeholders to improving operational efficiency, maintaining asset integrity and strengthening production reliability.

A breakdown of average daily crude oil and condensate production by terminal showed that Forcados Terminal recorded the highest output at 320,320 barrels per day, followed by Bonny Terminal with 303,270 barrels per day.

The latest figures reinforce Nigeria’s position as Africa’s largest crude oil producer as the federal government continues efforts to increase production and maximise revenue from the petroleum sector.