Nigeria’s oil production dropped by 4% in July – NUPRC

Nigeria’s average daily oil production fell by four per cent in July, data from the Nigerian Upstream Regulatory Commission (NUPRC) has shown.

According to the NUPRC, Nigeria produced 1.505 million barrels per day (bpd) of crude oil and 0.17 million bpd of condensate, bringing the combined daily production to 1.67 million bpd.

The commission said the country met and exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd for the third consecutive month.

“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd. Although Nigeria met its OPEC quota in the month of July, the statistics show that on a month-on-month basis, production fell by 4%,” the NUPRC stated.

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The commission attributed the decline to operational challenges at the Erha and Akpo fields, which affected production during the period under review.

“These disruptions constrained production volumes and contributed significantly to the overall reduction in national crude oil output,” it said.

The NUPRC added that production operations across most other producing assets remained relatively stable, with operators implementing measures to maintain production efficiency and minimise the impact of operational constraints.