Daily Crude Oil Production rose to 1.61m barrel in July –FG

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has stated that Nigeria’s average daily crude oil production rose to 1.61 million barrels per day as of July 23, 2024. The Commission Chief Executive, NUPRC, Engr. Gbenga Komolafe, made this known at the House of Representatives Special Committee two-day Public/Investigative Hearing on Oil Theft/Losses. In a statement, […]

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has stated that Nigeria’s average daily crude oil production rose to 1.61 million barrels per day as of July 23, 2024.

The Commission Chief Executive, NUPRC, Engr. Gbenga Komolafe, made this known at the House of Representatives Special Committee two-day Public/Investigative Hearing on Oil Theft/Losses.

In a statement, the commission disclosed that with the proven reserves of 37.50 billion barrels and a production capacity of approximately 2.19 million barrels per day (mbpd), Nigeria continued to dominate as Africa’s largest producer of Crude Oil.

Highlighting the key initiatives of the commission, Engr. Komolafe said the commission had prioritized improving rig availability and reducing non-productive time through unlocking heavy Crude Oil reserves via industry workshops.

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Speaking on Crude Oil theft and pipeline vandalism, he said Nigeria was facing significant challenges affecting terminals at Bonny, Brass, and Forcados.

“This has prompted the commission to employ end-to-end production monitoring and a mass balance methodology to accurately account for losses and differentiate them from operational losses. These interventions have significantly reduced theft, with zero incidents reported in July 2023.

“Other innovations include the Advanced Cargo Declaration (ACD) Regulation that ensures no Crude Oil is exported without proper accounting and assigns a unique identification number (UIN) to each cargo, the Upstream Metering Regulation, which mandates reliable metering systems to account for all hydrocarbon production and exports, and real-time cargo tracking and digital documentation to improve visibility and efficiency in cargo operations,” he said.

Komolafe reaffirmed NUPRC’s commitment to continued engagement with stakeholders to optimize Nigeria’s Oil production and maintain its leadership position in Africa’s energy sector.