Nigeria’s crude output topped its Organization of the Petroleum Exporting Countries (OPEC) quota for a sixth straight month in October, as combined production fell 1.7%, figures attributed to its upstream regulator show.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) figures put combined crude oil and condensate production at 1,687,710 barrels per day in October, compared with 1,717,030 bpd in September. The decline applies to the combined total, which includes condensate; the OPEC quota measures crude oil alone.
Crude production excluding condensate averaged 1.51 million bpd, or 101% of Nigeria’s 1.5 million bpd quota. October extended the country’s run of meeting or exceeding the quota to six consecutive months.
In September, crude-only output averaged 1.53 million bpd, equal to 102% of the quota. That five-month stretch ran from May through September, according to the commission’s September release. October’s figure extends the trend covered in EconoTimes’ report on Nigeria’s fifth straight month at or above quota.
The reported daily high for combined October production was 1.79 million bpd, while the low was 1.60 million bpd. Forcados led the reported terminal and stream breakdown at 318.49 thousand bpd of crude and condensate, followed by Bonny at 311.02 thousand bpd.
The commission said production had been relatively steady in recent months as field operations became more consistent, facilities stayed online more often and crude moved out more smoothly. The reported statement did not give a specific cause for October’s decline. NUPRC says its National Production Monitoring System collects production data directly from oil and gas facilities to track national crude production and exports.
