Connect with us

Economy

Nigeria’s Crude Oil Output Hits 74-Month High

Published

on

Nigeria

NUPRC says June production exceeded OPEC’s quota as stable operations lifted crude and condensate output for a fourth straight month

Nigeria’s crude oil output climbed to its highest level in more than six years in June 2026, with the country exceeding its Organisation of the Petroleum Exporting Countries (OPEC) production quota for the fourth consecutive month amid improved operational stability across key producing assets.

Advertisement

Also read: Nigeria Crude Exports Hit N20.22tn in First Five Months

Figures released on Sunday by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that Nigeria produced an average of 1,735,398 barrels per day (bpd) of crude oil and condensates during the month.

Of the total production, 1.56 million bpd was crude oil, while 0.18 million bpd came from condensates.

The crude oil volume alone exceeded Nigeria’s 1.5 million bpd OPEC production quota by about 4 per cent, making June the country’s strongest monthly crude oil performance since April 2020, a 74-month high.

Advertisement

According to the regulator, the country’s combined crude oil and condensate production reached a peak of 1.89 million bpd during the month, underlining Nigeria’s capacity to approach the long-standing target of 2 million bpd if current operational improvements are sustained.

The report noted that the lowest daily production recorded during the month was 1.57 million bpd.

June also marked the fourth consecutive month of production growth.

Advertisement

According to the NUPRC, output increased steadily from 1.483 million bpd in February to 1.546 million bpd in March, 1.663 million bpd in April, 1.700 million bpd in May, before reaching 1.735 million bpd in June, representing a 2.2 per cent month-on-month increase.

The commission attributed the remarkable improvement primarily to stable production operations across major oil-producing assets and the absence of significant pipeline disruptions during the reporting period.

“The improved performance was primarily driven by stable production operations across most producing assets and the absence of any major pipeline outages during the period under review,” the report stated.

Advertisement

It added that enhanced operational stability improved production uptime and increased the efficiency of crude oil evacuation across the country’s upstream sector.

Although a limited number of facilities experienced brief operational shutdowns, the commission said the overall impact on national production remained minimal.

It also noted that scheduled turnaround maintenance programmes were completed without causing significant disruptions to oil production.

Advertisement

“The sustained growth recorded in June reflects the continued commitment of operators and industry stakeholders towards improving operational efficiency, maintaining asset integrity, and enhancing production reliability across the Nigerian upstream petroleum sector,” the report added.

Among Nigeria’s export terminals, Bonny Terminal recorded the highest average daily production at 318,280 bpd, an increase from 293,880 bpd in May.

Forcados Terminal followed with 306,360 bpd, up from 289,900 bpd recorded the previous month.

Advertisement

Production at Qua Iboe Terminal declined slightly to 164,730 bpd from 173,360 bpd in May.

Meanwhile, Escravos Oil Terminal posted an average of 138,030 bpd, compared with 135,470 bpd in the preceding month.

Offshore producer Bonga ranked as the fifth-largest producing stream, averaging 103,660 bpd, marginally higher than the 102,540 bpd recorded in May.

Advertisement

Nigeria’s improving oil production comes after years of declining output caused by crude oil theft, pipeline vandalism, operational disruptions and underinvestment.

Since 2024, the Federal Government, security agencies and oil companies have intensified efforts to protect critical infrastructure, curb theft and restore production across the Niger Delta.

The latest figures are expected to strengthen government revenue, improve foreign exchange earnings and reinforce investor confidence in Nigeria’s upstream petroleum industry.

Advertisement

Also read: MAN Demands Transparent Naira-for-Crude Pricing

Sustaining the momentum, however, will depend on continued security improvements, infrastructure reliability and increased investment in existing and new oil fields.

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

TCN Misses Target as Grid Losses Cost N2.61bn

Published

on

TCN

TCN transmission losses cost Nigeria’s power sector N2.61bn in Q1 2026 as NERC reports worsening grid efficiency and stability

(more…)

Advertisement
Continue Reading

Trending