The output of crude oil, “blended and unblended condensate” in Nigeria increased to 1.572 million barrels per day in September, marking the highest production level of the year thus far.
This is according to data from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC). Data from the country’s upstream regulatory Authority revealed that oil production grew by 11.4 percent in August, from 1.41 million bpd.
For the month, crude oil production averaged 1.35 million barrels per day. While mixed and unblended condensate had production rates of 50,732 and 175,022 bpd, respectively.
Crude oil is a natural liquid derived from the earth. Unblended condensate is produced by mixing natural gas liquids, whereas blended condensate remains pure after separation from raw natural gas.
Earlier, Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited has said that Nigeria’s condensate production should be added to monthly crude production figures and reported as such.
Despite producing the most oil in 2023, at 1.3 million barrels per day (excluding condensates) or 1.5 million barrels per day (with condensates), Nigeria is still falling short of the 1.7 million bpd limit established by the Organization of Petroleum Exporting Countries (OPEC).
Nigerians have heard pledges from important parties such as NNPCL and the Ministry of Petroleum Resources that the government will expand oil output in order to satisfy the quota.
However, various difficulties continue to stymie domestic crude oil output.
One of the most serious issues is crude oil theft. To fight this issue, the Federal Government is partnering with NNPCL, security agencies, and third-party security businesses such as Tantita Security Limited.
Despite attempts, the problem of crude oil theft endures and keeps growing with new elements appearing daily.
It is important to highlight that, despite the Tinubu administration’s aspirations to switch to natural gas for a variety of applications including industrialisation, transportation, clean cooking, and fertilizer manufacturing, gas supply remains scarce due to crude oil theft.