Nigeria's Indigenous Oil Operators Dominate Crude Production

Nigeria's indigenous oil and gas operators have significantly increased their share of crude oil production in the country. According to Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, indigenous operators now account for more than 50% of Nigeria's crude oil production.

This development is attributed to major divestment transactions by international oil companies, which have created opportunities for indigenous operators to expand their participation in the upstream sector. The minister stated that Nigeria's crude oil production has risen from about one million barrels per day in 2023 to more than 1.7 million barrels per day.

Lokpobiri also highlighted the importance of adequate infrastructure, efficient transportation and storage systems, expanded refining capacity, and a competitive market capable of delivering value to consumers and investors. He noted that increased crude production must be matched by these essential components.