…Crude Oil Production Hits 74-Month High
Nigeria’s crude oil and condensate production soared to an average of 1,735,398 barrels per day in the month of June 2026, representing positive growth for a 4th consecutive month.
Data released by the Nigerian Upstream Petroleum Regulatory Commission for the month under review, showed that crude oil production hit 1.56mbpd while 0.18mbpd of condensates was produced.
This means Nigeria met 104 per cent of the 1.5mbpd crude oil production quota set by the Organisation and Petroleum Exporting Countries (OPEC).
In strict crude oil terms (excluding condensates), the 1.56 million daily average production Nigeria witnessed in June is the highest that Africa’s biggest oil producer has recorded since April 2020, thus representing a 74-month high.
In June, the peak combined crude oil and condensate production was 1.89mbpd, reflecting Nigeria’s potential to reach 2mbpd in the near term. However, the lowest production was 1.57mbpd for the period in review.
The statistics shows that Nigeria has maintained an upward trajectory, increasing from 1.483 mbpd in February to 1.546 mbpd in March, 1.663 mbpd in April, 1.700 mbpd in May, and 1.735 mbpd in June representing a 2.2 per cent growth month on month.
The improved performance was primarily driven by stable production operations across most producing assets and the absence of any major pipeline outages during the period under review. This enhanced operational stability supported improved production uptime and crude evacuation efficiency.
Although a limited number of assets experienced short-duration operational shutdowns, the overall impact on national production was minimal. In addition, scheduled turnaround maintenance activities were effectively managed and completed without significant disruption to production operations.
The sustained growth recorded in June reflects the continued commitment of operators and industry stakeholders towards improving operational efficiency, maintaining asset integrity, and enhancing production reliability across the Nigerian upstream petroleum sector.
A breakdown of the daily average crude oil and condensate production by terminals/streams during the review month shows that Bonny Terminal accounted for 318.28 kbpd, up from 293.88 kbpd recorded in May 2026, while Forcados Terminal followed with 306.36 kbpd, an increase from 289.90 kbpd in May 2026.
Qua Iboe Terminal recorded an average production of 164.73 kbpd of crude oil and condensates, down from 173.36 kbpd in May 2026, while Escravos Oil Terminal posted a daily average of 138.03 kbpd, up from 135.47 kbpd recorded in May 2026.
Bonga ranked as the fifth-highest producing terminal, recording an average of 103.66 kbpd of crude oil, compared to 102.54 kbpd delivered in May 2026.
(The Whistler)