The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled crude oil producers’ production forecast for the second half (H2) of 2024.
In a report yesterday, Gbenga Komolafe, group chief executive officer (GCEO) of NUPRC, also announced the refining requirement of functional refineries in Nigeria.
Domestic refineries, majorly the Dangote Refinery-650,000 barrels per day (bpd) capacity, have raised their crude oil requirements from Nigeria’s oil producing companies to 597,000 for the second half of 2024, up from 483,000 barrels per day in the first half. This has raised the domestic crude requirements for H2 to 107.22 million barrels.
NUPRC also confirmed that the oil companies were only able to provide 177,777 bpd to the refineries in the first six months of the year, way below the requirements of the refineries.
