A report on the Oil and Gas Sector shows that Nigeria met the crude oil production quota of the Organisation of Petroleum Exporting Countries (OPEC) by 98.97 per.
The cartel’s average daily quota for the month under review was 1.5million barrels per (mb/d) of crude oil.
However, the country’s output was 1.48mb/d of crude oil, 49,276bpd of blended condensed, and 133,699 unblended condensate, totalling 1.66mb/d.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) broke the news in its “Oil Production Status Report” for December 2024.
According to the document, the lowest and peak production in December were 1.57mb/d and 1.79mb/d respectively.
The report, however, recalled that the country’s output was 1.69mb/d in November 2024.
This was an indication that an average of 22,925 b/d declined in December.
The country continued to eye an average of 2mb/d production in the year under review.
In its third anniversary last year, the NUPRC unfolded plans to hit 2mb/d with the Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri insisting the country which recorded 2.4mb/d in 2020 was capable of producing 3mb/d.
Besides, as the Nigerian National Petroleum Company Limited (NNPCL) announced a production of 1.8mb/d in November, its Board of Trustees Chairman, Chief Pius Akinyelure charged it to hit 3mb/d out.
While the NNPCL Chief Executive Officer GCEO Malam Mele Kyari said 2mb/d production was realistic he swiftly noted how difficult it would be to meet the board’s task.
Throughout the year, the industry waged a sustainable war against crude oil theft, which impaired its dream of 2mb/d.
Last week, NNPCL said in the past week, 12 illegal pipeline connections and 50 illegal refineries were uncovered.
It said between 28th December and 3rd January, 2025, a total of 173 incidents were recorded across the Niger Delta region.
The records were through the joint efforts of the NNPCL Exploration and Production Ltd, NNPCL Command and Control Centre, Pipeline Infrastructure Ltd, Nigerian Liquefied Natural Gas, and Maton Engineering Ltd.
The Federal Government has announced 2.06 crude oil production benchmark for the 2025 budget that would require improved security on oil and gas assets to meet.
Nigeria expressed its eagerness to exceed the OPEC quota last year with Lokpobri urging the operators to intensify their efforts in that direction.
