Nigeria oil production dips 5% in February – NUPRC
…falls short of OPEC quota
By Tunde Opalana
Nigeria’s daily average crude oil production in February declined by about five percent from 1,538,697 bpd in January to 1,465,006 barrels per day.
This is according to data from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).
The data added that February production falls short of the country’s OPEC quota of 1.5 Mbps.
Nigeria produced 41 million barrels of crude oil in February.
“The average crude oil production was 98% of OPEC quota (1.5 Mbps),” the report noted.
It was reported that the country recorded a peak production of 1.7 Mbps in February, and the lowest was 1.6 Mbps.
“The daily average production in February was 1,671,953 barrels per day, comprising of both Crude oil (1,465,006 bopd) and condensate (206,948 bopd),” NUPRC noted in the report.
The data further showed that Nigeria recorded “a total production of 41,020,155 barrels of crude oil in February, with 1,599,693 barrels and 4,194,849 barrels of blended and unblended condensates, respectively.
This is “below the output in January, when the total production of crude oil was 47,699,593 barrels, excluding 1,910,213 barrels and 4,252,071 barrels in blended and unblended condensates.”
Performance of oil terminals/streams according to the NUPRC report, placed “Forcados Terminal as having the highest oil output with the production of 7.75 million barrels in February. It produced 8.86 million barrels in January.
“It is followed by the Bonny terminal, which produced 6.3 million barrels in the month under review. The Bonny terminal recorded 8.1 million barrels in January.
“Qua Iboe produced 4.28 million barrels in February, a decline from the 4.6 million barrels it produced in January.
“The Escravos terminal produced 3.87 million barrels in February, while it produced 4.48 million barrels in January.
Obudu terminal had 2 million barrels in February, dropping from 2.3 million barrels in January.
“Tulja–Okwuibome recorded 1.89 million barrels in February, a decline from 2.26 million barrels in January.
The figures above include both crude oil and condensate.
Nigeria produced a total of 566.8 million barrels of crude oil and condensate in 2024, according to NUPRC data.
