Nigeria’s crude oil and condensate production saw a slight increase in August 2024, rising by 36,983 barrels per day (bpd) from the previous month’s output. According to a report titled *”Crude Oil and Condensate Production – August 2024,”* released by the Nigerian Upstream Petroleum Regulatory Authority (NUPRC), the country produced a total of 1.57 million barrels per day (mb/d). This includes 1.3 mb/d of crude oil, 55,300 b/d of blended condensate, and 163,693 b/d of unblended condensate.
This marks a steady improvement from the 1.53 mb/d recorded in July 2024 and other months such as June (1.5 mb/d), May (1.4 mb/d), and April (1.4 mb/d). However, the nation’s oil production has fluctuated in recent months due to several challenges, including pipeline vandalism, crude oil theft, and illegal refining operations in the Niger Delta.
In response to these issues, the Nigerian National Petroleum Company Limited (NNPCL) revealed that security agencies have intensified efforts to combat crude oil theft. Just last week, 25 individuals suspected of involvement in crude oil theft were apprehended in the Niger Delta region. The NNPCL emphasized that it is continuing its crackdown on oil-related crimes to safeguard the nation’s valuable resources.
Despite these setbacks, the increase in crude oil output is a positive signal for Nigeria’s energy sector. Industry experts hope that sustained efforts to secure oil infrastructure and curb illegal activities will lead to more consistent production growth in the coming months.
