Nigeria's Oil and Gas Output Rises to 3.04 Million Boepd

Nigeria's NNPC reported a rise in oil and gas production for September, with total output increasing to 3.04 million barrels of oil equivalent per day, up from 3.01 million boepd in the prior month. The increase was driven by higher crude oil and natural gas production, as well as flat condensate output at some oilfields. Revenues from the production exceeded $3.4 billion, equivalent to 4.608 trillion Nigerian naira, matching the revenue figures for March.

Despite the slight boost in production, NNPC noted that output remained constrained due to various factors such as unplanned downtime, facility reliability issues, and disruptions to export infrastructure. Crude oil output alone reached a 15-month high in May, averaging 1.53 million barrels per day, marking the highest level since January 2025.

Combined with 170,446 bpd of condensate production, Nigeria's total crude and condensate production hit an 11-month high of 1.7 million bpd in May, the last time the country produced more than 1.7 million bpd for a full month was in July 2025. The recent crackdown on oil theft and sabotage in the Niger Delta has contributed to the increase in crude production, and NNPC aims to further boost output by 2030, with a target of 2 million bpd over the next two years.