Nigeria's Oil Output Rises Modestly in August

Nigeria's crude oil and condensate production rose by 0.4% in August to 1,677,777 barrels per day (bpd), according to a report from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).

The NUPRC attributed the modest increase in August production largely to the resolution of operational challenges involving the Single Buoy Mooring (SBM) at the Erha field.

Bonny Terminal recorded the highest average production at 320.04 thousand barrels per day (kbpd), followed closely by Forcados Terminal with an average daily production of 317.40 kbpd.

Nigeria met its Organisation of Petroleum Exporting Countries (OPEC) crude oil quota for the fourth consecutive month, and operators continued implementing measures to optimise production efficiency and maintain asset integrity.