Nigeria’s oil production drops below 1mbd

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Lagos, May 12, 2023 -Nigeria’s crude oil production fell below one million mark in April to 998,602 barrels per day, the lowest in seven months, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The production figure fell to 998,602 barrels per day (bpd), a 21.26 percent decline compared to March, when output was 1,268,202 bpd.

In breaking down the figures, the country produced 998,602 barrels per day of crude oil, 66,317 barrels per day of blended condensates and 180,110 barrels per day of unblended condensates in the month of April.

These figures make up 1.2 million barrels per day recorded for the month of April 2023.

When the data shows the amount of crude production recorded for the month, it also features production figures for each of the segments, all of which make up the total amount of production for the month.

During the highlighted period, Nigeria did not meet up with previous production figures from January to March 2023.

Meanwhile, the country produced 998,602 barrels per day of crude in April 2023. Please note that these figures are only from crude oil, not blended and unblended condensates.

In January 2023, Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, said that the country could achieve a 2.2 million barrels per day crude oil production output in 2023.

Speaking about the current oil output, Gbenga Komolafe, Chief Executive Officer (CEO) of the NUPRC, on Wednesday, said oil production is currently about one million bpd below “its technically allowable capacity”.

He was represented by Kelechi Ofoegbu, the executive commissioner for economy, regulatory, and strategic planning, NUPRC, at a host communities sensitisation workshop. (GBN)

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