Seven new regulations aimed at providing a regulatory environment that assures efficiency, predictability, clarity and effectiveness to the Nigerian oil and gas industry have been issued by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). according to a statement by the commission, these bring to 12 the number of regulations so far concluded and issued by the NUPRC in line with …

The Nigerian Upstream Regulatory Commission (NUPRC) on Tuesday unveiled a strategic plan which would act as a roadmap to guide the organisation’s activities and propel it towards a future of growth and success. The commission’s Chief Executive, Engr. Gbenga Komolafe, who unveiled the plan in Abuja, said it was a significant milestone in the organization’s journey as it repositions to …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it has thrown its doors open to potential investors who wish to collaborate in building partnerships and unlocking the full potential of Nigeria’s upstream petroleum sector. The commission said it is leveraging the Petroleum Industry Act (PIA), 2021 which has enhanced the business landscape in Nigeria’s petroleum industry, providing a more transparent, …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has developed an industry intelligent digital automated platform for reporting and monitoring the Host Community Development Trust (HCDT). This, the commission said, is for transparent administration of the host communities’ provisions of the Petroleum Industry Act (PIA) 2021. According to its Chief Executive, Engr. Gbenga Komolafe, NUPRC developed the platform in partnership with …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that it would support indigenous oil companies with the right policies and regulations to grow. During a visit to the exhibition booth of Green Energy International Limited at the Offshore Technology Conference in Houston, Texas, United States, NUPRC Chief Executive, Engr. Gbenga Komolafe said that the oil and gas industry regulator …

President Muhammadu Buhari has approved the extension of the technical/commercial bid submission for the 2022/2023 deep offshore oil block mini-bid round process to 19th May; while the timeline for concluding activities of contract negotiations and signing will now be between 3rd and 28th July 2023. Announcement the new deadline on Saturday in a statement, the Chief Executive of the Nigerian …

In recognition of the funding challenges facing some of the awardees of the 2020 Marginal Field Bid Round licences, the Nigerian Upstream Regulatory Commission (NUPRC) is planning a production based lending engagement that would assist them source capital to commence full field development towards hitting first oil. According to the commission, the engagement, which is planned to commence soon, will …

Approximately 40 percent of the volumes credited to crude losses in the Nigerian petroleum industry are actually attributable to measurement inaccuracies and not theft as often reported, according to the Chief Executive of the Nigerian Upstream Regulatory Commission (NUPRC), Engr. Gbenga Komolafe. At the Petroleum Club Quarterly Dinner over the weekend, Komolafe said that the revelation followed a forensic audit …

In furtherance of the Nigerian Gas Flare Commercialisation Programme (NGFCP) of the Federal Government, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will hold a Bidders’ Conference/Investors Forum in Abuja on 2 February. The event will afford stakeholders and investors in Nigeria’s upstream petroleum sector the opportunity to seek clarifications on the programme. The conference is being organised barely a month after …

The Federal Government said on Monday that the licensing process for seven deep offshore open oil blocs, which began on 3rd January will last for four months. It welcomed investors with expertise and experience in deep water operations from across the world to accept the financial terms of the Petroleum Industry Act 2021 and participate in the bidding for the …