In the first half of 2024, Nigeria produced a total of 236,229,281 barrels of crude oil despite facing supply challenges to refineries like Dangote Refinery and others.
The Nigerian Upstream Petroleum Regulatory Commission shared this data, indicating a slight decrease in production compared to the same period in 2023 when the country produced 219.5 million barrels.
The breakdown of the production figures by month revealed fluctuations in daily oil production levels. January saw the highest average daily production of 1.43 million barrels, which dropped to 1.32mbpd in February and further decreased to 1.23mbpd in March.
There was a marginal increase to 1.28mbpd in April, followed by a decline to 1.25mbpd in May. Despite Group Chief Executive Officer Mele Kyari’s statement that daily production was nearing 1.7 million barrels, June recorded a production level of 1.28mbpd.
The challenges faced by Nigeria’s crude production include issues of oil theft and vandalism, as highlighted by Kyari, who emphasized the impact of these issues on the country’s revenue. The illegal connections and refineries pose significant obstacles to oil production and distribution.
Additionally, Dangote Refinery has faced crude supply challenges due to pricing disparities set by International Oil Companies above global market prices.
The Nigerian Upstream Petroleum Regulatory Commission has taken steps to address this by requesting monthly price quotes on crude supply from oil refiners in the country.
Amid these challenges, the Nigerian Downstream Petroleum Regulatory Authority has advised caution regarding Dangote refinery petroleum products.
DNews Info is a trusted source for breaking news, insightful commentary, and in-depth coverage of events across Nigeria and beyond. With a commitment to delivering accurate, timely, and engaging stories, we aim to keep our readers informed and empowered. Stay connected for the latest updates in politics, business, entertainment, and more.
Discover more from DnewsInfo
Subscribe to get the latest posts sent to your email.
