Nigeria increases oil production to 1.8 million barrels per day

The Nigerian National Petroleum Corporation (NNPC) Limited said on Thursday that oil production has been increased to 1.8 million barrels per day (bpd) and may likely reach two million bpd by year-end.

According to producer group OPEC’s latest report, oil production at Africa’s top crude exporter was estimated at 1.3 million bpd in October.

Nigeria often counts condensate production of around 250,000 bpd as part of its production.

The NNPCL said the increase was a result of collaborative efforts with its joint venture operators and its partners on production-sharing contracts, alongside security agencies and the government.

NNPCL Group Chief Executive Officer, Mele Kyari, during a press briefing, said, “The team has done an excellent job in not only recovering production but also increasing it to levels that meet the expectations of our shareholders in both the short and long term.”

Nigeria has faced challenges such as crude theft, sabotage, and local unrest in its Niger Delta production region, which have hindered output growth.

In June, the NNPC established a ‘war room’ to coordinate the efforts of oil partners, government agencies, and private security personnel to combat crude theft. Since then, several vessels involved in stealing crude have been destroyed, and some illegal refiners have been arrested.

Kyari noted that interventions across all segments of the production chain, combined with rigorous pipeline monitoring by security agencies, have been essential to this recovery effort.