Nigeria’s oil outputs drops to 1.29m bpd in July


Nigeria’s crude oil output dropped to 1.29m barrels per day, bpd in July, according to the latest oil regulator report.

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its recent date on July crude oil production.

Accordingly, analysis of the figure showed that crude oil production fell 12.56 per cent from 1.48 million bpd in June this year, and by 1.52 percent from 1.31 million bpd on a year-on-year basis.

On average, crude oil production for the month was 1.08 Mbps. While blended and unblended condensate were 38,258 and 174,509 bpd, respectively.

A significant cause of the decline was the temporary shutting of the Forcados terminal last month. According to the report, production dropped by 58.4 per cent to 3.29 million bpd from 7.9 million bpd in June.

Saga Gist recalls that Shell Petroleum Development Company, SPDC, suspended crude oil production.

Nigeria’s Forcados crude oil Shell Petroleum Development Company (SPDC) suspended loadings of Nigeria’s Forcados crude oil due to a potential leak at the export terminal in July.

Nigeria crude oil sales hit N5.14 trillion in the first quarter of 2023.

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