The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that Nigeria’s crude oil production increased to 1.485 million barrels per day (bpd).
The commission made this known in its latest crude oil and condensate production data which contained details of the drilling performance.
According to the data, output rose by 152,334 bpd in November, showing an increase of 11.43 per cent compared to 1,333,322 bpd produced in October.
It further showed that with the addition of condensate, Nigeria’s oil production increased to 1.69 million bpd in November from 1.53 million barrels in October.
Although oil production improved significantly in November, the volume is still below the 1.5 million bpd quota the Organisation of Petroleum Exporting Countries (OPEC) approved for Nigeria.
Commenting on Nigeria’s quota, Heineken Lokpobiri, minister of state for petroleum resources (oil), said the resolution of OPEC to extend Nigeria’s oil production quota to 1.5 million bpd is in line with the country’s output target.
Lokpobiri said the quota complements Nigeria’s 2025 oil output benchmark of 2.06 million bpd.
“For Nigeria, these resolutions align with our 2025 production target of 2.06 million barrels per day, inclusive of condensates, as outlined in the draft 2025 Appropriation Bill,” he said.
