The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled first half 2025 crude oil production forecast of producing oil companies and the refining requirement of functional refineries in Nigeria. A report by the commission’s Chief Executive, Engr. Gbenga Komolafe, stated that the move is pursuant to Section 109 of the Petroleum Industry Act (PIA), 2021 and it is aimed at …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially launched the 2024 Licensing Round, a pivotal moment in Nigeria’s energy landscape. This marks the first licensing round since the implementation of the Petroleum Industry Act (PIA) in August 2021, setting the stage for significant advancements in hydrocarbon development. At the Commercial Bid Conference held today (Wednesday, December 18), in Lagos, …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) achieved significant recognition at the 2024 Service Compact (SERVICOM) Ministries, Departments and Agencies (MDAs)’ Awards held in Abuja on Tuesday. The commission secured the Overall Best Performing Parastatal SERVICOM Unit (PSU) Award, along with the 2024 Best Performing PSU, Team B Award. Its Chief Executive, Engr. Gbenga Komolafe was honored with a Recognition …

The Federal Government has declared that Nigeria’s oil production, including condensates, increased by 9.9 per cent to 1.69 million barrels per day in November 2024, up from 1.538mbpd recorded in October 2024. According to the latest data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), an agency of the Federal Government, liquid crude oil production rose by 11.42 per …

The dedication of the Nigerian Upstream Petroleum Regulatory (NUPRC) to fostering a favourable business environment has continued to attract huge investments in the oil and gas industry as TotalEnergies has committed to multi-billion-dollar investments and participation in the next bid round. During a meeting at the commission’s headquarters in Abuja on Friday, President/Chief Executive Officer of TotalEnergies Worldwide, Mr. Patrick …

The Federal Government’s recent decision to block Shell’s $2.4 billion divestment plan for its onshore assets has raised concerns among analysts, who warn that this could deter vital investment needed to bolster Nigeria’s crucial oil sector. The analysts speaking to Reuters on Wednesday highlighted that the government is sending mixed signals regarding its commitment to attracting investments, citing concerns about …

As Nigeria embarks on its 2024 Licensing Round, a combination of robust natural resources, competitive regulatory framework and strategic incentives has created a favourable environment for investors wishing to take part in the country’s oil and gas sector. This was contained in a statement on Saturday by the Head of Public Affairs and Corporate Communication of the Nigerian Upstream Petroleum …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), on Wednesday, inaugurated the metering audit and advanced cargo declaration project teams following the recent approval for the implementation of two key projects by the Federal Executive Council. The projects are the Audit of Upstream Measurement Equipment and Facilities in the Nigerian Oil and Gas Industry and the Advance Cargo Declaration Solution. The …

The Federal Government and crude oil producers in the country have committed to working towards a sustainable supply of crude oil to local refineries under a market-determined pricing system, according to statement on Wednesday by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC). The commission said that the aim is to ensure that while the operators do business optimally, the refineries …

‘There is hunger in the land’ has become a common refrain in the Nigerian landscape owing to the fallouts of the harsh economic situation in the country. Although this is a reality on the ground, the narrative is amplified monstrously by mongers who rather than face the contributory factors choose to run on blame lanes, pointing accusing fingers at perceived …