Nigeria’s crude oil production increased from 1.307 million barrels per day in July to 1.352mbpd in August.
The Organisation of the Petroleum Exporting Countries said in its September Monthly Oil Market Report.
OPEC said the average daily crude production rose marginally to add 45,000 barrels, based on information obtained through direct communication with the Nigerian government.
The report is contrary to claims by the Federal Government that the daily crude production was nearing 1.6mbpd.
The PUNCH recalls that President Tinubu, during his August 4 nationwide broadcast, boasted that oil production increased to 1.6mbpd in July.
He attributed the rise to the reforms he announced in May to address the Petroleum Industry Act.
“Our once-declining oil and gas industry is experiencing a resurgence on the back of the reforms I announced in May 2024 to address the gaps in the Petroleum Industry Act. Last month, we increased our oil production to 1.61 million barrels per day, and our gas assets are receiving the attention they deserve,” the president said last month.
On July 26, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed that daily oil production hit 1.61 million barrels in July.
Komolafe revealed that at the House of Representatives Special Committee’s two-day public/investigative hearing on oil theft/losses.
“As of July 23, 2024, Nigeria’s average daily production stands at 1.61mbpd,” he disclosed.
However, OPEC said in its report that output for July was 1.30mbpd for July and the information was as received from the OPEC member country (Nigeria).
In May, Nigeria’s daily oil production dipped further to 1.25 million barrels per day despite claims by the Nigerian National Petroleum Company Limited that the country’s oil production was nearing 1.7mbpd.
OPEC data showed that Nigeria lost 30,000bpd as crude production dropped from 1.28mbpd in April to 1.25mpd in May.
The PUNCH reported earlier that Nigeria’s dwindling daily oil production improved in April, rising marginally from 1.23 million barrels per day in March to 1.28mbpd, according to OPEC.
The organisation, whose data always tally with that of NUPRC, stated that Nigeria’s oil production added 50,000 barrels daily in April after it fell in recent times.
The nation’s crude production fell from 1.32 million barrels per day in February to 1.23 million barrels per day in March.
Production dropped from 1.427mbpd in January to 1.322mbpd, according to direct sources.
Meanwhile, the Federal Government said it was on course to achieve over two million barrels per day soon. (Punch)
