Egypt and Nigeria See Significant Oil Production Gains

Egypt’s desert oil and gas exploration is delivering notable output growth. According to official data, crude oil and condensate production rose by almost 12,000 barrels per day over two weeks, with the Bustan South‑1X well and joint‑venture Khalda Petroleum boosting daily output from 113,300 to 123,500 barrels per day in early June. The country plans to drill 100 exploratory wells by 2026 as part of a five‑year investment strategy to strengthen energy security.

Nigeria’s oil sector recorded its strongest output in nearly a year, with combined crude and condensate averaging 1.70 million barrels per day in May 2026 – 102 % of its OPEC quota. Crude alone reached 1.53 million barrels per day, the highest level since January 2025, and production remained steady across major terminals such as Bonny and Forcados. The increase was attributed to sustained operational stability and the completion of scheduled maintenance.