Nigeria June oil exports up 4% month on month to 2.1 million b/d

Nigeria exported 62.9 million barrels of oil including condensate, or an average 2.10 million b/d, in June, up 4.4% month on month, Nigerian National Petroleum Corporation data showed.

Europe accounted for 49% of the exports.

“Four regions, namely Europe, South America, Asia and Africa, remain the major destinations of Nigerian crude and condensate export,” the NNPC said.

The NNPC data showed oil production in June averaged 2.16 million b/d, down 7.5% on June.

Gas production was 199.44 Bcf, compared with 209.10 Bcf in June, with about 11.22% of the production burnt.

Nigeria’s four refineries operated at an average of 10.5% of their combined nameplate capacity of 445,000 b/d.

Nigeria allocates 450,000 b/d of its production for domestic consumption. NNPC, which manages the refineries, swap a large portion of that domestic crude for refined oil products from international traders.

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