Nigeria's oil output hits six-year high, exceeding OPEC target

Nigeria's crude oil output has surged to its highest level in six years, signaling a significant boost for Africa's largest oil producer. Last month, the nation's production averaged 1.56 million barrels per day, surpassing its OPEC quota by 4 percent. This achievement marks the highest crude production recorded since April 2020, according to the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).

The recent improvements in production are attributed to a multi-pronged strategy. Authorities have intensified crackdowns on oil theft, a persistent issue that has historically hampered the sector. Furthermore, the government has engaged former militants, who previously sabotaged pipelines, to serve in security roles, thereby protecting critical infrastructure. This approach coincides with a strategic shift by major foreign oil companies, which have increasingly focused on offshore extraction while divesting from onshore projects often plagued by pollution scandals in the Niger Delta. Local firms have stepped in to fill this void.

"The improved performance was primarily driven by stable production operations across most producing assets and the absence of any major pipeline outages during the period under review," the NUPRC stated. Including condensates, Nigeria's total oil production averaged 1.74 million barrels per day in June. While the government maintains a target of two million barrels per day, the current figures represent a substantial recovery and a positive step towards bolstering national revenue.

“

The improved performance was primarily driven by stable production operations across most producing assets and the absence of any major pipeline outages during the period under review.