The Nigerian Upstream Petroleum Regulatory Authority (NUPRC) says the country’s oil production increased to 1,485,700 barrels of oil per day (bpd) in April.
According to NUPRC’s latest crude oil and condensate production data, the figure represents the first month-on-month output growth.
The current production level signifies a 6.06 percent rise compared to March, when the yield was 1,400,783 bpd.
With the addition of condensate, the NUPRC said oil production rose from 1.603 million bpd in March to 1.683 million bpd in April.
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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 NUPRC also noted that the average crude oil production for April represents 99 percent of the 1.5 million bpd quota set for Nigeria by the Organization of Petroleum Exporting Countries (OPEC).
“Lowest and Peak Combined crude oil and Condensate Production in April were 1.60 million bopd and 1.73 million bopd respectively,” the commission said.
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“The daily average production in April was 1,683,307 barrels per day, comprising of both Crude oil (1,485,700 bopd) and condensate (197,607 bopd).”
Earlier on Monday, Bayo Ojulari, group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, said the national oil firm will continue to drill oil in the north to ramp up production.
On May 7, the NUPRC said ExxonMobil pledged to invest $1.5 billion in deep-water exploration and development.
The commission explained that the financial commitment, set to be executed between the second quarter of 2025 and 2027, aims to rejuvenate production in the Usan deepwater oil field.
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