Nigeria's Crude Oil Output Sees Modest Rise in August Amid Improved Operations
Nigeria's crude oil production showed a modest improvement in August, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The country produced an average of 1.677 million barrels of crude oil and condensate per day during the month, which represents a 0.4% increase from July.
The NUPRC attributed this improvement to the resolution of operational challenges at the Erha field, particularly with the Single Buoy Mooring (SBM). The restoration of normal evacuation and production operations at the asset contributed positively to overall production volumes during the period under review.
The Bonny Terminal was the highest producing terminal in August, accounting for 320.04 kilobars per day, followed by Forcados Terminal with 317.40 kilobars per day. Qua Iboe Terminal recorded an average of 171.72 kilobars per day, while Escravos Oil Terminal posted a daily average of 131.71 kilobars.
The NUPRC emphasized the importance of timely resolution of operational constraints and effective asset management practices in safeguarding and improving Nigeria's crude oil production capacity.