Nigeria’s Oil Production Rises By 3% To 1.30mbpd In February –NUPRC

Nigeria’s oil production increased to 1,306,304 barrels per day (bpd) in February 2023, data from the latest crude oil and condensate production report of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has shown.

The production figure is 3.83 per cent or 48,154 bpd higher than the 1,258,150 bpd recorded in January 2023.

The latest figure represents the second consecutive rise in oil production in 2023.

It is also the highest output level since January 2022 when production averaged 1.39 million bpd.

According to the NUPRC report, with the addition of condensate, oil production totalled 1.547 million bpd in February 2023, increasing from the 1.494 million recorded in January 2023.

Condensate is a mixture of light liquid hydrocarbons, similar to a light (high API) crude oil. It is usually separated from a natural gas stream at the point of production (field separation) when the temperature and pressure of the gas are dropped to atmospheric conditions.

The rise in output comes amid renewed efforts by the government to shore up oil production.

The NUPRC had said it was working to revive shut-in oil wells.

The oil regulator said “over 900,000 barrels of oil per day can be earned from the quick-win interventions while the medium- and long-term initiatives could potentially add 1.2 million barrels of oil per day if properly and fully implemented”.