Nigeria Seeks 25% Higher OPEC+ Oil Production Quota for 2027

Nigeria seeks 25% hike in oil production quota

Nigeria is seeking a 25% increase in its oil production quota as part of OPEC+ output targets, the head of the state oil company told energy industry publication Argus Media. Bashir Ojulari said he wanted the quota for Africa’s top crude oil producer to rise to 2 million barrels per day, up from the current level of 1.5 million bpd. Members of OPEC+, an alliance of the world’s top oil exporters, are in talks to establish production quotas for 20…

Nigeria Seeks 25% Higher OPEC+ Oil Production Quota for 2027

Africa’s top oil producer, Nigeria, is seeking a production target under the OPEC+ agreement of 2 million barrels per day (bpd) for 2027, up from the current quota of 1.5 million bpd, Bashir Ojulari, chief executive of state-held oil firm NNPC, has told Argus. Nigeria has been pumping oil below its output quota for years, but has recently ramped up production, which now stands at about 1.4 million bpd, per Ojulari’s estimates. OPEC+ delegates ha…

Nigeria meets OPEC’s output quota of 1.5m bpd — second time in 2025

The Organization of Petroleum Exporting Countries (OPEC) says Nigeria’s average daily crude oil production increased to 1.505 million barrels per day (bpd) in June.   OPEC spoke on Nigeria’s drilling performance in its latest monthly market report, released on Tuesday.   The oil cartel said the production figures were obtained through direct communication with Nigerian authorities.   The OPEC normally sources its crude oil output data from two c…

Nigeria vs. OPEC+: The African country wants to produce significantly more oil. The cartel will grant it. - Economic Scenarios

Tensions are brewing within OPEC+. Africa's top oil producer, Nigeria, is seeking to set a production target under the OPEC+ agreement of 2 million

NNPC: Nigeria Eyes 25% Oil Quota Hike By 2027 Amid Refinery Boom » News.ng

Nigeria is preparing to lobby for a 25% increase in its oil production quota by 2027, backed by expanded refining infrastructure and improved extraction capacity, according to the Nigerian National Petroleum Company Limited (NNPC). Under the leadership of Group CEO Bashir Ojulari, the NNPC has set a goal to raise its production quota from the current 1.5 million barrels per day (bpd) to 2 million bpd. At present, output is hovering around 1.4 mi…