 |
 |
| << Back Poser >> |
| PENGASSAN strike reduced Nigeria’s oil production by 3% in September – NUPRC |
 The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria’s crude oil and condensate production fell to an average of 1.581 million barrels per day (bpd) in September 2025. The commission disclosed this in a statement on Saturday, citing official statistics released by its Head of Media and Strategic Communication, Eniola Akinkuotu.
NUPRC attributed the drop to a three-day industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), which led to the shutdown of several production and export facilities. FIRST BANK AD It added that scheduled turnaround maintenance at two strategic facilities also contributed to the decline in output. According to the data, the 1.581 million bpd figure for September comprised 1.39 million bpd of crude oil and 191,373 bpd of condensates. Powered by pixfuture “In September, the industry recorded total crude oil and condensate production of 47.43 million barrels, reflecting a 1.61 per cent year-on-year increase in average daily production. “This shows a slight improvement from the 1.55 million bpd recorded in September 2024, indicating gradual progress. ‘However, on a month-on-month basis, September’s output marked a 3.09% drop compared to 1.63 million bpd recorded in August 2025,” the commission noted. It said in spite of the setback, Nigeria achieved 93 per cent of its OPEC crude oil production quota of 1.5 million bpd in September. It further said that during the review month, peak combined production (crude and condensate) reached 1.81 million bpd, while the lowest was 1.35 million bpd. READ ALSO: NUPRC cancels TotalEnergies $860 million Nigerian onshore oil business sale The NUPRC said an analysis of production by the top eight streams in September showed Forcados Blend accounted for 15.86 per cent of total output, followed by Bonny Light at 13.31 per cent, and Qua Iboe at 9.88 per cent. It said Escravos Light contributed 8.96 per cent, Bonga Crude delivered 6.83 per cent, Agbami Condensate made up 4.94 per cent, Erha Crude accounted for 4.55 per cent, while Amenam Blend contributed 4.2 per cent of total production. |
| Premium Times |
|
Stock Market Extends Rally as Investors Gain N2.16trn in One Week Kayode Tokede  The Nigerian equities market continued its positive momentum last week, buoyed by broad based buying interest across major sectors that led to N2.16 trillion investors return.    |
|
Letters of Credit Surge 33% on Improved Forex Liquidity Nume Ekeghe Improved foreign exchange liquidity and a more stable naira have spurred renewed trade activity in Nigeria’s financial markets, with the value of Letters of Credit (LCs) rising by 33.3 per |
|
NGX Records N5.31trn New Listings as FGN Bonds Outshine Corporates Kayode Tokede  The Nigerian Exchange Limited (NGX) recorded an estimated N5.31 trillion worth of both Federal Government of Nigeria (FGN) Bonds and Corporates listings in the nine months of |
|
CBN Raise N10.4trn via NTBs as 91-Day Rate Slumps to 15% Kayode Tokede  The Central Bank of Nigeria (CBN) has so far raised an estimated N10.4 trillion via the Nigerian Treasury Bills (NTBs) 2025, about 1.09 per cent drop from |
|
PENGASSAN strike reduced Nigeria’s oil production by 3% in September – NUPRC It said in spite of the setback, Nigeria achieved 93 per cent of its OPEC crude oil production quota.The post PENGASSAN strike reduced Nigeria’s oil production by 3% in September – NUPRC appeared first on Premium Times |
|
VAT complexity scares investors By Kingsley Webora TANKE A Tax Partner at Price Waterhouse Coopers (PWC), Abeku Guan Quansah, has admonished government to eliminate the cascading effect of levies charged with the Value Added Tax (VAT) – stressing that taxes influence behaviour, investments and business competitiveness. Hence, the cascading effect of these levies scares investors away, impacts business operations […]The post VAT complexity scares investors appeared first on The Business & |