The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the first half 2025 crude oil production forecast of producing oil companies and the refining requirement of functional refineries in Nigeria.
Commission Chief Executive, NUPRC, Engr. Gbenga Komolafe, who released the forecast in a statement on Wednesday, said the move was pursuant to Section 109 of the Petroleum Industry Act (PIA), 2021, and was aimed at effective capacity utilization of the nation’s domestic refineries by ensuring a consistent supply of crude oil.
According to him, the comprehensive data provides insights into the projected crude oil needs for the refineries, crucial for understanding the energy landscape in Nigeria for the first half of 2025.
TheFact Daily reports that the forecasted daily crude requirement for Refineries, including Dangote, Old Port Harcourt, Warri, and Kaduna, which is Seven Hundred and Seventy Thousand, Five Hundred barrels (770,500 Bopd), is about 37% of the forecasted first half 2025 average daily production of Two Million, Sixty-Six Thousand, Nine Hundred and Forty Barrels (2,066,940 Bopd).
Recalled that in October 2024, NUPRC launched Project 1 million Barrels which is expected to favourably impact the national production.
NUPRC is leveraging the capacity of upstream operators to meet the target daily production of Two Million, Five Hundred Thousand Barrels (2,500,000 Bopd) in the short term.
The Commission said the strategic initiative aligns with Nigeria’s commitment to bolstering its domestic refining capacity and ensuring the sustainability of its oil industry.
Engr. Komolafe said the first half of 2025 is expected to witness increased synergy between local refineries and producing companies, setting the stage for a more robust and self-reliant petroleum landscape in Nigeria.
