The production from 13 of Nigeria’s 29 crude oil terminals has fallen significantly between July and September 2022, Nairametrics news portal reported, citing data from the Nigerian Upstream Petroleum Regulatory Commission.

Among the worst-hit crude terminals are Bonny, Brass, and Forcados, which saw production output drop by 79%, 40.5%, and 96.5%, respectively, during the three-month period.

Forcados terminal recorded the highest loss of the three terminals, down from over three million barrels in July to just over 100,000 in September.

Data from the commission showed that crude oil production in September 2022 stood at 937,766 barrels per day, compared to 1.2 million barrels per day a year earlier.

Crude oil theft has long been a concern for Nigeria’s oil and gas industry, with the theft rate increasing immensely in the last few months.

In October, Nigerian National Petroleum Corporation CFO Umar Ajiya said the country has been losing $150 million daily from pipeline vandalism and sideline production.
Source: ZAWYA