Nigeria’s oil production saw a 0.39 per cent decline in the total oil production in the month of October according to the Nigerian Upstream Petroleum Regulation Commission (NUPRC).
According to data released by the commission, total oil production dropped to 1, 538 barrels per day in October from 1, 544 barrels per day in September 2024.
The report showed that Liquid crude oil production increased by 0.67 per cent, from 1.324 million barrels per day in September to 1.333 million barrels per day in October while condensate oil production declined by 6.91 percent to 204, 806 barrels per day in October from 219, 997 barrels per day in September.
According to the monthly production data, which also shows the volume of crude received by each terminal, revealed that BONY terminal received the largest volume of crude oil in October at 2.26 million barrels, followed by FORCADOES and ESCRAVOS terminals at 5.093 million barrels and 4.339 million barrels respectively.
The report also indicated that the production of Nigeria’s latest crude oil, the Utapate crude oil blend stood at 1.226 million barrels per day in the month of October.
