{"id":947,"date":"2025-08-04T16:26:42","date_gmt":"2025-08-04T14:26:42","guid":{"rendered":"https:\/\/swazidailynews.com\/?p=947"},"modified":"2025-08-04T16:26:42","modified_gmt":"2025-08-04T14:26:42","slug":"nigerias-july-oil-output-tops-1-8-million-bpd-regulator-says","status":"publish","type":"post","link":"https:\/\/genesisekucalenimedia.com\/edn\/947\/business\/nigerias-july-oil-output-tops-1-8-million-bpd-regulator-says\/","title":{"rendered":"Nigeria&#8217;s July oil output tops 1.8 million bpd, regulator says"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">LAGOS &#8211; Nigeria&#8217;s oil production surpassed 1.8 million barrels per day (bpd) last month, with current average output at 1.78 million bpd, the head of the country&#8217;s upstream regulator said on Monday.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The West African country, Africa&#8217;s largest oil producer, relies on crude oil for nearly two-thirds of government revenue and over 80% of foreign currency earnings, making production gains critical for stabilising its economy.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">But<\/span><span data-preserver-spaces=\"true\"> widespread oil theft, unrest and years of underinvestment curtailed output and strained public finances before Nigeria stepped up<\/span><span data-preserver-spaces=\"true\"> a\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.reuters.com\/business\/energy\/nigeria-steps-up-crackdown-oil-theft-it-targets-3-million-bpd-production-2024-12-31\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">crackdown<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0in the oil-rich Niger Delta region.<\/span><\/p>\n<p><strong>READ MORE: <a title=\"Trump tariffs face key test at US appeals court\" href=\"https:\/\/genesisekucalenimedia.com\/edn\/archives\/732\">Trump tariffs face key test at US appeals court<\/a><\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">Gbenga Komolafe, <\/span><span data-preserver-spaces=\"true\">chief executive<\/span><span data-preserver-spaces=\"true\"> of the Nigerian Upstream Petroleum Regulatory Commission, told delegates at an energy conference that the output increase, largely possible <\/span><span data-preserver-spaces=\"true\">due to<\/span><span data-preserver-spaces=\"true\"> the step-up in security operations, is part of a push to boost oil production by 1 million <\/span><span data-preserver-spaces=\"true\">bpd<\/span><span data-preserver-spaces=\"true\"> to 3 million <\/span><span data-preserver-spaces=\"true\">bpd<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Oil output last reached 1.8 million <\/span><span data-preserver-spaces=\"true\">bpd<\/span> <span data-preserver-spaces=\"true\">in<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.reuters.com\/business\/energy\/nigeria-lifts-oil-production-18-mln-barrels-per-day-2024-11-14\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">November<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Komolafe said the commission would continue working with stakeholders to sustain production gains and improve industry transparency. (Reuters) <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"LAGOS &#8211; Nigeria&#8217;s oil production surpassed 1.8 million barrels per day (bpd) last month, with current average output&hellip;","protected":false},"author":1,"featured_media":948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[21,30],"tags":[55,50,56,57],"class_list":["post-947","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-world","tag-business","tag-international","tag-markets","tag-oil","cs-entry","cs-video-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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