Nigeria achieved record crude oil production in September 2023

According to the additional examination of data collected from the NUPRC, the nation produced 1,266,659 bpd, 1,292,240 bpd, and 1,266,737 bpd of oil in January, February, and March, respectively. Nigeria generated 1,004,392bpd, 1,189,332bpd, 1,260,928bpd, and 1,089,089bpd in April, May, June, and July, respectively.

According to the aforementioned crude oil production numbers, Nigeria produced the most oil this year in September, reaching a record level.

Nigeria’s federal government has been working hard to increase oil output, which is now well below the 1.8 million barrels per day cap that the Organization of Petroleum Exporting Countries has set for Nigeria.

In a related event, the NUPRC expressed great optimism that the asset transaction from Exxon Mobil to Seplat Energy may proceed.

Gbenga Komolafe, the CEO of NUPRC, revealed this to Reuters on Wednesday in Cape Town at Africa Oil Week, according to a report by the Punch NG, a Nigerian newspaper.

The $1.28 billion sale, which some in the industry said was crucial to attracting much-needed investment into Nigeria’s oil and gas sector, was rejected by the regulator last year.

“We are very optimistic that parties to the transaction will go back, look at the position of the regulator and come back by abiding by the provisions of Nigerian laws and the right thing will be done,” Komolafe stated.

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