The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that the Federal Government, Dangote Oil Refinery and eight other domestic refineries are expected to require 770,500 barrels of oil equivalent per day (BOPD) for processing in the first half of 2025 (January to June). ).
Additionally, the government aims to produce more than two million barrels per day (bpd) and 62 million barrels per month. These refineries include the 10,000 bpd OPAC refinery in Delta State, the 5,000 bpd Waltersmith refinery in Imo State, the 2,500 bpd Duport Midstream in Edo State and the 1,500 bpd Edo refinery, also in the state from Edo.
Other key refineries are the 11,000 bpd Aradel refinery in Rivers State, the 60,000 bpd former Port Harcourt refinery in Rivers State, the 125,000 bpd Warri refinery in Delta State and the 110,000 bpd Kaduna refinery in Kaduna State.
The NUPRC revealed this while revealing its crude oil production forecast for the first half of 2025 and refining requirements for functional refineries. This measure aligns with the Commission's efforts to ensure effective utilization of the country's refinery capacity and a steady supply of crude oil, as outlined in Section 109 of the Petroleum Industry Act (PIA). 2021.
According to the NUPRC, the crude oil requirement of 770,500 bpd constitutes approximately 37% of the expected average daily production for the first half of 2025 of 2,066,940 bpd. The Commission also highlighted that the goal will be achieved through the One Million Barrel Project initiative, launched in October 2024, which has significantly increased the country's crude oil production capacity for both domestic use and export.
The Commission stated: “The projected daily crude oil requirement of 770,500 bpd represents around 37% of the projected average daily production for the first half of 2025 of 2,066,940 bpd. With the launch of the 1 Million Barrel Project, NUPRC is leveraging upstream operators to meet the 2.5 million bpd target in the near term.”
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“This initiative is in line with Nigeria's commitment to enhance its domestic refining capacity and ensure the long-term sustainability of its oil industry. In the first half of 2025, we expect greater collaboration between local refiners and producing companies, driving a more self-sufficient oil industry in Nigeria.”
The crude oil required by these refineries will come from International Oil Companies (IOC) and independent producers, including Shell, Chevron and Seplat Energy. The Commission outlined the crude oil needs for each refinery: the Dangote Oil Refinery needed 550,000 bpd and the OPAC Refinery 5,000 bpd. Other refineries, such as Waltersmith Refinery, Duport Midstream, Edo Refinery and Aradel Refinery, have respective needs of 4,500 bpd, 2,000 bpd, 1,000 bpd and 7,000 bpd. Additionally, the Port Harcourt, Warri and Kaduna refineries require 60,000 bpd, 75,000 bpd and 66,000 bpd respectively.
Meanwhile, Nigeria's average daily oil production increased by 7.38% year-on-year in December 2024, reaching 1.667 million bpd, including condensate, up from 1.552 million bpd in December 2023. However, month-on-month , oil production decreased by 1.35% from 1.69 billion bpd in November 2024.
The data also showed that Nigeria's highest daily oil production in December 2024 was 1.79 million bpd, while the lowest production on record was 1.57 million bpd. In total, Nigeria produced 51.69 million barrels in December 2024, an increase of 1.9% compared to 50.71 million barrels produced in November 2024.
The highest oil production of the month was recorded at Terminal Forcados, with 8.49 million barrels, followed by Bonny Terminal with 7.78 million barrels and Qua Iboe with 4.15 million barrels. Excluding condensate, Nigeria's daily oil production stood at 1.484 million barrels, indicating a shortfall to OPEC's production quota of 1.5 million bpd.
NIGERIAN TRIBUNE