Information from the Nigeria Upstream Petroleum Regulatory Fee (NUPRC) present that Nigeria’s each day common crude oil manufacturing in February declined by about 5 p.c from what was produced in January.
In response to the information, Nigeria’s each day common crude oil manufacturing for February 2025 was 1,465,006 barrels per day, dropping from 1,538,697 bpd in January.
The February manufacturing falls in need of the nation’s OPEC quota of 1.5 Mbps.
“The common crude oil manufacturing was 98% of OPEC quota (1.5 Mbps),” NUPRC famous within the report.
In the meantime, the report famous that the nation recorded a peak manufacturing of 1.7 Mbps in February, and the bottom was 1.6 Mbps.
It ought to be famous that these figures embrace condensates, which OPEC doesn’t embrace in its calculations of crude oil manufacturing.
“The each day common manufacturing in February was 1,671,953 barrels per day, comprising of each Crude oil (1,465,006 bopd) and condensate (206,948 bopd),” NUPRC famous within the report.
Nigeria produced 41 million barrels of crude oil in February
The info additional exhibits that Nigeria recorded a complete manufacturing 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.
That is beneath the output in January, when the full manufacturing of crude oil was 47,699,593 barrels, excluding 1,910,213 barrels and 4,252,071 barrels in blended and unblended condensates.
Efficiency of Oil terminals/Streams
The highest-performing terminals or streams, based on the NUPRC report, embrace BONNY, BRASS, QUA IBOE, FORCADOS, ESCRAVOS, ODUDU, and TULJA – OKWUIBOME.
- Forcados Terminal had the best oil output with the manufacturing of seven.75 million barrels in February. It produced 8.86 million barrels in January.
- It’s adopted by the Bonny terminal, which produced 6.3 million barrels within the month underneath assessment. 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, whereas 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 embrace each crude oil and condensate
What it’s best to know
- Nairametrics reported that Nigeria produced a complete of 566.8 million barrels of crude oil and Condensate in 2024, based on NUPRC information.
- We additionally reported that Nigeria produced above its OPEC quota in February, based on a Reuters survey.
In the meantime, OPEC is but to publish its Month-to-month Oil Marketplace for February.
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