NUPRC: Crude oil production dropped by 7% to 1.25m bpd in November

Nigeria’s oil production dropped to 1,250,299 barrels per day in November 2023.

The country’s drilling performance is contained in the latest crude oil and condensate production data of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

According to the report, production decreased by 100,274 bpd in November — a 7.42 percent plunge from the output of 1,350,573 bpd recorded in October 2023.

With the addition of condensate, Nigeria’s oil production dropped to 1.46 million bpd in November from 1.56 million barrels in October 2023.

Condensate is a mixture of light liquid hydrocarbons, similar to a light (high API) crude oil.

It is usually separated from a natural gas stream at the point of production (field separation) when the temperature and pressure of the gas are dropped to atmospheric conditions.

The drop in production level comes at a time when the country is counting on increased oil production levels even as the Organisation of Petroleum Exporting Countries (OPEC) believes the country can shore up production to 1.5 million bpd next year.

Heineken Lokpobiri, minister of state for petroleum resources (oil), had said the country is on track to surpass the oil production quota projected by OPEC.

In August 2023, Lokpobiri assured Nigerians of increased oil production on a sustainable basis.