Nigeria’s oil production rose in Sept – OPEC
Crude oil production increased mostly in Iraq, Nigeria and the United Arab Emirates in September, while production in Saudi Arabia showed the largest drop, the Organization of Petroleum Exporting Countries (OPEC) said in its October Monthly Oil Market Report (MOMR).
Relying on secondary sources, OPEC said the total crude oil production by its 12-member group increased by 0.11 million barrels per day (mb/d) to average 31.57 mb/d in September compared to 31.462 mb/d in October.
An analysis of the OPEC oil data revealed that Nigeria, a high-ranking member of the group, contributed to the increase with 1.900 mb/d in September, the highest recorded for the year so far.
The country had recorded a higher crude output in the first quarter of the year with an average of 1.886 mb/d oil output. Production then dropped to 1.816 mb/d in the second quarter but recovered to 1.854 mb/d in the third.
The record rise may be attributed to the lifting of force majeure on oil exports after rampant theft and vandalism had forced oil majors to shut down pipelines and defer exports within the first seven months of the year.
Petroleum Development Company (SPDC) of Nigeria lifted the force majeure on Bonny Light exports, following the repair and re-opening of the Trans Niger Pipeline (TNP) and Nembe Creek Trunkline (NCTL).
Bonny Light is one of Nigeria’s main export grades.
Shell said that the TNP had been repaired and a number of crude theft points removed from the NCTL.
The Trans Niger Pipeline transports about 180,000 barrels of crude oil per day to the Bonny Export Terminal and is part of the gas liquids evacuation infrastructure critical for continued domestic power generation at the Afam VI power plant and liquefied gas exports.