The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has set a crude oil production target of 367.5 million barrels for oil firms operating in the country for the first half of 2025.
This target aligns with Nigeria’s broader goal to enhance its oil output, which is projected to reach 2.06 million barrels per day by 2025, including condensates.
The Commission also announced that local refineries will require 770,500 barrels per day (bpd) of crude oil for effective operation in the first half of 2025.
This demand represents approximately 37 per cent of the projected daily production of 2,066,940 bpd during this period.
NUPRC aims to enhance domestic refining capacity and ensure a steady supply of crude to meet local needs, aligning with the Petroleum Industry Act’s provisions for sustainable energy management in Nigeria.
Despite recent increases in production, challenges such as theft and underinvestment remain significant hurdles for achieving these ambitious targets.
These figures were obtained in the document titled, “Crude oil production forecast of producing oil companies and the refining requirement of functional refineries in Nigeria the first half 2025”, released by the NUPRC on Wednesday.
