Nigeria’s oil output beats OPEC quota for fifth straight month

By: Ganiyu Olayinka

Nigeria produced above its OPEC quota in September, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The figures show the country has now met or exceeded its allocation for five consecutive months.

Combined crude oil and condensate output rose 2.34 per cent to 1.717 million barrels per day in September. Production peaked at 1.84 million barrels on the best day of the month and fell to 1.68 million on the weakest.

Excluding condensates, crude production averaged 1.53 million barrels per day, or 102 per cent of Nigeria’s 1.5 million barrels per day OPEC quota. That put the country 30,000 barrels per day above its target.

The NUPRC’s Head of Media and Corporate Communications, Eniola Akinkuotu, announced the figures in a statement on Tuesday. The commission said the single-day peak of 1.84 million barrels reinforced Nigeria’s position as Africa’s largest crude oil producer.

A five-month run

Monthly crude-only averages over the period were:

• May: 1.53 million barrels per day
• June: 1.55 million
• July: 1.51 million
• August: 1.5 million
• September: 1.53 million

The commission said Nigeria has held output at or above its OPEC allocation despite long-standing problems in the industry, including crude theft, pipeline vandalism, operational disruptions and difficulties moving crude from producing fields.

What drove the improvement

The NUPRC attributed September’s performance mainly to stable operations across most producing assets and the absence of major pipeline outages. It said this improved production uptime and the efficiency of crude evacuation.

The regulator said the results reflected efforts by operators and other stakeholders to improve efficiency, protect the integrity of oil-producing assets and make production more reliable. In its statement, it described the growth as evidence of “continued commitment” to those goals.

Output by terminal

Forcados Terminal was the largest contributor among the terminals and streams listed, averaging 320,320 barrels per day in September. Bonny Terminal followed with 303,270 barrels per day.