According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria’s total crude oil and condensate production has seen a decline for three consecutive months from January to March 2024.
The latest figures reveal a production level of 4,887,623 barrels per day (b/d) in March, marking a noticeable drop from January’s output of 6,939,273 b/d.
In February 2024, the country produced 5,187,592 b/d of crude oil and condensate, indicating a downward trend in production over the past months.
Attributing the decrease in crude oil production during the first quarter of 2024 (Q1 2024), Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), cited challenges with the Trans Niger Pipeline and maintenance activities carried out by some oil companies as contributing factors.
Lokpobiri assured stakeholders that measures are underway to address the situation, aiming not only to restore production to previous levels but also to surpass them.
He emphasised that issues concerning the Trans Niger Pipeline have been addressed, and maintenance activities by oil companies have been managed.
The Minister anticipates a swift return to Nigeria’s previous oil production levels, including condensate, which stood at approximately 1.7 million barrels per day before the recent setbacks.
