December 11, (THEWILL) – Nigeria’s crude oil production, excluding condensate, increased to an average of 1.48 million barrels per day (bpd) in November 2024, representing a 15.3 percent rise compared to the 1.3 million bpd recorded in October, the Organisation of Petroleum Exporting Countries revealed in its latest report.
In its December Oil Market Report released on Wednesday, OPEC attributed the improved output to direct communication with Nigerian authorities, as well as secondary sources, which put Nigeria’s crude oil production at 1.417 million bpd for November, up from 1.4 million bpd in October.
The Nigerian National Petroleum Company Limited had earlier disclosed on November 14 that it achieved 1.8 million bpd in crude production, citing intensified efforts to combat pipeline vandalism and crude oil theft.
“According to secondary sources, total OPEC-12 crude oil production averaged 26.66 mb/d in November 2024, which is 104 tb/d higher month-on-month. Crude oil output increased mainly in Libya, Iran, and Nigeria, while production in Iraq, Venezuela, and Kuwait declined,” OPEC said.
The report further noted that non-OPEC crude oil production averaged 14.01 mb/d in November, marking a month-on-month increase of 219 tb/d, with significant output gains in Kazakhstan and Malaysia.
The data also confirmed Nigeria’s standing as Africa’s leading oil producer, surpassing Algeria, which produced 908,000 bpd in November, and Congo, the third-largest producer with 268,000 bpd during the same period.
Additionally, the Nigerian Upstream Petroleum Regulatory Commission highlighted in its December 2024 Oil Production Output Report that the country’s total oil output, including condensate, rose to 1.7 million bpd in November, marking a year-on-year increase of 13.3 percent from 1.5 million bpd in November 2023.
On a month-on-month basis, output rose by 10 percent, from 1.5 million bpd in October 2024 to 1.7 million bpd in November.
During the commission’s third-anniversary celebration, NUPRC Chief Executive, Engr. Gbenga Komolafe, expressed optimism about the nation’s capacity for increased crude production.
He emphasised that ongoing activities by Petroleum Prospecting License awardees and licensing rounds would further enhance Nigeria’s energy sector.
“Our efforts are yielding satisfactory results, as evidenced by increased upstream activities over the past year.
“Rig operations, well interventions, and field developments have all seen significant upticks, signaling a positive trend for production growth. These improvements reflect both the impact of regulatory reforms and a renewed focus on optimizing our oil and gas resources,” Komolafe said.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
