Nigeria’s oil production rises to 13-month high

Nigeria’s crude oil output rose to 1.3 million barrels per day in February, the highest in 13 months.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its latest oil production report released on its website on Thursday.

Data from the agency revealed that the country’s production increased by 39 percent from 937,766 barrels per day in September when the country was battling with oil theft.

On a month-on-month basis, Nigeria’s crude oil output rose by 48,154 barrels per day from 1.26 million barrels per day in January to 1.3 million barrels per day the following month.

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NUPRC data reflected the promise by the Nigerian National Petroleum Company Limited (NNPCL) that Nigeria was on course to achieve 1.8 million barrels per day in the next two to three months.

The NNPCL Group Chief Executive Officer, Mele Kyari, told journalists last month that the company crossed the 1.6 million barrels per day threshold on February 16.

“I know that it is not far away, probably two to three months maximum, but we will be there, and that will bring back partners to invest, return the confidence of our investors, and ultimately bring back growth,” he stated.