ENUGU, Nigeria (VOICE OF NAIJA)- Nigeria’s crude oil output reached an unprecedented high of 1.35 million barrels per day in September 2023, marking the country’s most significant volume of oil production for the year.
Recent data sourced from the Nigerian Upstream Petroleum Regulatory Commission on Wednesday revealed that Nigeria’s oil output in September surged by approximately 14 per cent compared to the preceding month of August 2023.
The commission’s statistics indicated that in September, Nigeria produced precisely 1,346,562 barrels per day of crude oil, which represented a substantial increase of 165,429 barrels per day compared to the 1,181,133 barrels per day produced in August this year, according to Punch.
A more in-depth examination of the data from the NUPRC unveiled that Nigeria’s oil production figures for January, February, and March stood at 1,266,659 barrels per day, 1,292,240 barrels per day, and 1,266,737 barrels per day, respectively.
In the subsequent months of April, May, June, and July, Nigeria’s crude oil production tallied 1,004,392 barrels per day, 1,189,332 barrels per day, 1,260,928 barrels per day, and 1,089,089 barrels per day, respectively.
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The data conclusively demonstrates that September witnessed Nigeria’s highest oil production output for the year.
The Federal Government of Nigeria has been actively working to boost the country’s oil production, aiming to align with the 1.8 million barrels per day quota approved for Nigeria by the Organization of the Petroleum Exporting Countries (OPEC).
In another development, the NUPRC expressed optimism that Exxon Mobil’s asset sale to Seplat Energy could proceed.
Gbenga Komolafe, the Chief Executive of NUPRC, conveyed this sentiment during Africa Oil Week in Cape Town while speaking to Reuters. Last year, the regulator declined to approve the $1.28 billion sale, a transaction seen as crucial for attracting essential investment into Nigeria’s oil and gas sector.
Komolafe stated, “We are very optimistic that parties to the transaction will reevaluate the regulator’s position, adhere to Nigerian laws, and ensure that the right course of action is taken.”