In the last quarter of 2024, Nigeria’s oil and gas sector experienced a slight development from the previous quarter. In October 2024 the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)recorded a decline in crude oil production from 1.54 million barrels per day to 1.53 million barrels per day. However, in November 2024, there was an increase in Nigeria’s daily oil production which reached 1.8 million barrels per day. The Nigerian National Petroleum Company Limited (NNPC L) projected an increase to 2 million barrels per day by the end of 2024.
ENERGY INSIGHTS: THE QUARTERLY
