In line with its commitment to safeguarding Nigeria’s commonwealth and enforcing accountability in the oil and gas sector, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), on Tuesday, received the Engineering Audit of Upstream Measurement Equipment and Facilities in the Nigerian Oil and Gas Industry end–of–project report from PE Energy. Approved by the Federal Executive Council in 2024, this report is a …

In a pivotal meeting held in Abuja on Tuesday, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and NNPC Energy Services (ENSERV) agreed to enhance their collaboration in the oil and gas sector. During a visit to the commission, both parties expressed their commitment to cultivating a productive and results-oriented partnership that will support Nigeria’s energy objectives. According to a statement …

Nigeria is inviting global investors to join in unlocking the country’s vast potential and shaping the future of energy in Africa and beyond. At the 2025 Africa Energies Summit, which just ended in London, United Kingdom, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, said that the process is being handled by his agency. …

On Friday, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that the country’s crude oil reserves stood at 37.28 billion barrels as of 1 January 2025, with an estimated lifespan of 64 years. In a statement in Abuja, the Commission Chief Executive, Engr. Gbenga Komolafe, also revealed that Nigeria’s gas reserves have reached 210.54 trillion cubic feet (TCF) as of …

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has disclosed that Nigeria’s rig count will hit 50 in March. Komolafe said active rigs are currently 38, from 32 in the previous weeks. According to him, increasing the number of active rigs is essential to boost oil production and achieve the two million barrels per day …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), along with major stakeholders in the country’s oil and gas sector, met in Abuja on Wednesday to discuss and fine-tune issues related to domestic crude supply obligations between producers and refiners. The meeting aimed to enhance Nigeria’s energy security. The gathering, which has become routine, presented a platform for the management of NUPRC, …

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe has emphasised the need for a paradigm shift to position Nigeria as a leader in energy security and economic growth. At the Renewed Hope Global Town Hall Conference in Abuja, on Saturday, he highlighted reforms and achievements in Nigeria’s oil and gas sector. On Nigeria’s oil …

Nigeria’s cost of producing crude oil has risen to about $40 per barrel, a report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said. This is 300 per cent higher than the cost of producing the same crude in Saudi Arabia, which is $10 per barrel. According to the NUPRC, rising production costs, coupled with volatile global oil prices, …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned that it would henceforth deny export permits for crude oil cargoes intended for domestic refining, if oil companies do not fulfill their domestic crude obligations. The commission insists that any changes to cargoes designated for domestic refining must receive express approval from its Chief Executive. In a 2 February 2025 letter …

The Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe on Thursday announced a five-point agenda to ramp up oil production in 2025, at a forum where he also emphasised the importance of unity and collaboration among stakeholders to navigate the dynamic global energy landscape effectively. Engr. Komolafe was speaking at the Petroleum Industry …