Nigeria’s crude oil production declined to 1,466,185 barrels per day (bpd) in November, according to a report from the Nigerian National Petroleum Commission.
This figure is a decrease from the 1,562,315 bpd produced in October 2023, representing a dip of 96,130 bpd.
The report noted that crude oil output in November was 1,250,299 bpd, and 49,426 bpd of blended condensate was produced during the same period.
Despite this decrease, Nigeria has struggled to meet its OPEC quota of 1.8 million bpd for 11 consecutive months in 2023, with challenges like crude oil theft and pipeline vandalism contributing to production downtime.
Additionally, the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, expressed optimism that Nigeria would not only meet but surpass the 1.7 million bpd crude oil production benchmark set in the 2024 budget.
He emphasized the government’s commitment to creating an enabling environment for stakeholders in the oil and gas sector to thrive and increase production capacity.
These developments underscore the challenges and efforts in Nigeria’s oil industry, emphasizing the need for collaboration and strategies to address issues affecting production levels.
