Nigeria oil sector
Oil sector at risk as policy unstability worries investors – PENGASSAN
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has cautioned the Federal Government that frequent policy changes and amendments in the oil and gas sector may discourage both local and foreign investors. Speaking at the opening session of the 4th PENGASSAN Energy and Labour Summit (PEALS) in Abuja, the association’s President, Festus […]
Ojulari Makes Public Appearance Despite Resignation Speculations
Amid swirling rumours of his resignation, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bayo Ojulari, made a public appearance on Monday, August 4, 2025, participating virtually in an official engagement — signaling continuity in his role despite the speculations. NNPC GCEO Ojulari’s appearance was during an event organised […]
SERAP Demands NNPCL Account for N500bn Shortfall
The Socio-Economic Rights and Accountability Project (SERAP) has raised serious concerns over the unexplained shortfall of N500 billion that the Nigerian National Petroleum Company Limited (NNPCL) reportedly failed to remit to the Federation Account between October and December 2024, according to recent findings by the World Bank. In a formal Freedom of Information request dated […]
Petrobras Plans Strategic Return to Nigeria’s Oil Sector
Brazil’s state-owned oil giant, Petrobras, is signaling a robust interest in re-entering Nigeria’s lucrative oil industry, particularly focusing on frontier deepwater exploration blocks. This move is part of broader efforts to strengthen Nigeria-Brazil bilateral relations and deepen cooperation in the energy sector. The revelation came during an interministerial review meeting chaired by Nigeria’s Vice President, […]
Dangote, NNPC Partner to Boost Nigeria’s Economic Growth
In a significant step toward enhancing Nigeria’s energy security and boosting economic development, the President/CEO of Dangote Group, Aliko Dangote, on Thursday, May 8, 2025, paid a courtesy visit to the newly appointed Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr. Bashir Bayo Ojulari, at the NNPC Towers in […]
Crude Oil Reserves Rise to 37.28 Billion Barrels – NUPRC
In a significant boost to Nigeria’s energy sector, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially declared the nation’s crude oil and condensate reserves at a total of 37.28 billion barrels as of January 1, 2025. The announcement also revealed that Nigeria’s natural gas reserves have soared to a staggering 210.54 trillion cubic feet […]