Tag: crude oil production Nigeria

Nigeria energy sector rebounds as NNPC profit jumps 74% and Dangote cuts petrol price

Business Damilola Bayonle -
IBADAN, June 1 — Nigeria energy sector delivered a rare combination of positive signals in April and May 2026,...

Chevron scores fresh oil discovery as Awodi-07 signals new momentum for Nigeria’s upstream sector

Business Damilola Bayonle -
Nigeria’s oil and gas industry has received a fresh boost as Chevron Nigeria Limited deepens its upstream activities, reinforcing...

Oil earnings fall short by ₦16.2tn despite production gains

Business Damilola Bayonle -
Nigeria’s fiscal fragility has once again been exposed as oil earnings fall short of projections by a staggering ₦16.2...

FG: Nigeria eyes 2.5M bpd oil output

Business Damilola Bayonle -
The Federal Government has reiterated its commitment to expanding Nigeria’s crude oil production, with the Nigerian Upstream Petroleum Regulatory...

NUPRC Targets 40% Share of Africa’s Oil, Gas Investments

Business Damilola Bayonle -
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled an ambitious strategy to reclaim Nigeria’s dominance in Africa’s oil...

Oil Tax Revenue Jumps 41.7% to N3.69tn in H1 2025

Business Damilola Bayonle -
Nigeria has recorded a significant jump in oil tax revenue, hitting ₦3.69 trillion in the first half of 2025,...

FG Eyes 810,000bpd Oil Boost from Deepwater Fields

Business Damilola Bayonle -
In a bold move to revive Nigeria’s declining offshore oil output and expand national revenue, the Federal Government has...

Active Oil Rigs Rise to 46, Highest Count in Over a Decade

Business Damilola Bayonle -
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that the country’s active oil rigs have increased to 46,...

FG Set to Revoke Dormant Oil Licences Under New Policy Framework

Business Damilola Bayonle -
The Federal Government has unveiled a strict enforcement of its long-standing 'drill or drop' policy, which mandates oil producers...