In December 2024, Nigeria achieved 98.97 percent of its crude oil production quota set by the Organisation of the Petroleum Exporting Countries (OPEC). OPEC’s average daily quota for the month was 1.5 million barrels per day (mb/d) of crude oil.…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says operators will be required to provide evidence of low carbon emissions for applications of oil licences and permits from January 1. Chief executive officer (CEO) of the NUPRC, Gbenga Komolafe said the…
Following the skepticism that has trailed the Nigerian National Petroleum Company Limited (NNPC Ltd) recent announcement of a 1.8mbpd increase in the nation’s crude production, the company has clarified the metrics used to announce the figures it disclosed to the…
Nigeria’s crude oil production saw a slight decline in October 2024, decreasing from 1.54 million barrels per day to 1.53 million bpd, according to the latest oil production status report from the Nigerian Upstream Petroleum Regulatory Commission. Unlike OPEC’s reports,…
The Nigerian Upstream Petroleum Regulatory Commission has clarified that international oil companies are not exiting Nigeria despite their recent divestments. According to NUPRC CEO, Gbenga Komolafe, these divestments are part of “portfolio rationalisation,” a common practice in other markets. At…
The Nigerian Upstream Petroleum Regulatory Commission has called on the Ondo State Government to form a partnership with the Federal Ministry of Mines and Solid Minerals to harness the mineral resources in the state for economic development. The commission noted…
Nigeria is preparing to open bids for 31 onshore and offshore oil and gas blocs in a race to increase oil output and attract new investment, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). “These 31 oil and gas…
The Chairman of the Public Accounts Committee of the House of Representatives, Bamidele Salam, has admitted that the committee has not concluded their investigation into the alleged missing funds in the Nigeria Upstream Petroleum Regulatory Commission. The committee already announced…
By Esther Agbo The Chairman of Heirs Holdings Group, UBA Group, and Transcorp Group, Tony O. Elumelu, CFR, has called for bold steps towards innovation and collaboration in Nigeria’s Oil and Gas sector. He said while delivering a compelling goodwill…
The Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) has said that the Host Community Development Trust (HCDT) Fund is being implemented in line with the Petroleum Industry Act (PIA 2021). The National President, HOSTCOM, Dr Benjamin Tamaranebi said…
