Tag: crude oil production

Tinubu ends 15-Year OPL 245 dispute, unlocks massive deepwater oil investment for Nigeria

Business Damilola Bayonle -
Nigeria’s oil and gas sector may be entering a new phase of investor confidence following the Tinubu OPL 245...

NNPCL moves to begin drilling in Ogun as Tinubu backs frontier oil expansion

Business Damilola Bayonle -
NNPCL set to commence drilling in Ogun oil block Nigeria’s state oil firm is advancing plans to begin commercial drilling...

Nigeria attracts $18.2bn oil investments as 28 new field plans signal sector revival

Business Damilola Bayonle -
Nigeria’s oil and gas sector recorded a major turnaround in 2025, attracting $18.2bn in fresh investments following the approval...

2026 oil revenue projection: FG warns of ₦60.97tn as crude output and prices fall

Business Damilola Bayonle -
The Federal Government has projected a total oil revenue of ₦60.97 trillion for the 2026 fiscal year, reflecting a...

OPEC confirms Nigeria 1.5mbpd oil quota for 2026: Boosting stability and global confidence

Business Damilola Bayonle -
The Organisation of Petroleum Exporting Countries (OPEC) has confirmed that Nigeria’s crude oil production quota will remain at 1.5...

NUPRC approves $20bn field development plans in 10 months as Nigeria targets higher oil output

Business Damilola Bayonle -
A renewed effort to revitalise Nigeria’s upstream petroleum sector, the Nigerian Upstream Petroleum Regulatory Commission has approved about $20bn...

Dangote begins crude oil production soon to boost energy security and refinery output

Business Damilola Bayonle -
The Dangote refinery is set to commence crude oil production soon, marking a major milestone in Nigeria’s quest for...

Workers’ strike and maintenance slash Nigeria’s oil output in September — NUPRC

Business Damilola Bayonle -
Nigeria’s oil output declined in September 2025, following a combination of industrial action by senior oil workers and scheduled...

NUPRC Announces Robust Surge in Oil Production to 1.7M Barrels Daily

Business Damilola Bayonle -
Nigeria’s oil production surged to a six-month high in July 2025, averaging 1.71 million barrels per day (bpd), the...