The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that Nigeria recorded 732 oil spill incidents in 2024, with sabotage accounting for 59.01% of the cases.

This disclosure was made in the Commission’s 2024 Annual Report, recently submitted to the Minister of Petroleum Resources in compliance with Sections 24(9) and (10) of the Petroleum Industry Act (PIA) 2021, which mandates the submission of annual operational and financial reports by March 31 of the following year.

According to the report, the Commission achieved key milestones that positively impacted the petroleum sector and the broader Nigerian economy. It also provided updates on reserve levels, production figures, licensing rounds, and revenue performance.

Key Highlights from the NUPRC 2024 Annual Report:

Oil & Gas Reserves

* As of January 1, 2024:
* Crude Oil + Condensate reserves: 37.50 billion barrels
(a 1.45% increase from 36.10 billion barrels in 2023)
* Gas reserves: 209.26 trillion standard cubic feet (TCF)
(a marginal increase of 0.21% from 208.83 TCF in 2023)

Production Performance

* Total crude production in 2024:
* 578.5 million barrels, comprising:
* 482.8 million barrels of crude oil
* 95.7 million barrels of condensate
* Daily average production:
* 1.58 million barrels per day (1.32 million barrels of oil and 261,430 barrels of condensate)
* Production performance vs. Targeted Annual Requirement (TAR): 67%

Gas Production & Utilisation

* Total gas produced: 2.511 TCF
* Daily average: 6.86 billion cubic feet per day (BCF/D)
* Associated Gas: 3.924 BCF/D (57.2%)
* Non-Associated Gas: 2.938 BCF/D (42.8%)
* Utilisation rate: 92.26%
* Gas utilised: 2.317 TCF
* Gas flared: 0.193 TCF (7.64%)
* Shrinkage losses: 0.003 TCF (0.10%)