), gave an order last week directing the Nigerian Upstream Petroleum Regulatory Commission to monitor crude oil production by taking over the regulatory oversight of crude oil export terminals nationwide. Nigeria’s oil production had been on the rise since September 2022, following concerted efforts by the Federal Government and stakeholders to curb oil theft in the sector. The 1.258mbpd oil production in January 2023 was about 23,000bpd higher than the 1.235mbpd crude oil output in December 2022. But the volume dropped to 1.27mbpd in March, putting an end to the seven-month run in Nigeria’s oil output. To help stem the loss of crude, The PUNCH recently reported that the Federal Government directed the NUPRC to monitor crude oil production and take over the regulatory oversight of crude oil export terminals nationwide.

Source: Punch May 15, 2023 15:12 UTC