NUPRC
NUPRC Announces Robust Surge in Oil Production to 1.7M Barrels Daily
Nigeria’s oil production surged to a six-month high in July 2025, averaging 1.71 million barrels per day (bpd), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported on Thursday. This marks a 9.9 per cent year-on-year increase, signalling strong progress toward the country’s fiscal and OPEC-aligned production goals. According to the NUPRC, the total daily output […]
FG: Nigeria eyes 2.5M bpd oil output
The Federal Government has reiterated its commitment to expanding Nigeria’s crude oil production, with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirming that the country is on course to reach 2.5 million barrels per day (bpd) by 2026. The announcement was made by NUPRC Chief Executive Gbenga Komolafe during the 2025 PENGASSAN Energy and Labour […]
FG to settle N2.7tn gas debt through royalty payments
YThe Federal Government has announced plans to clear the N2.7 trillion legacy debt owed to gas companies by offsetting it with royalty payments. This strategic move is designed to ease the financial burden on the government while providing long-awaited relief to gas producers who have been at the receiving end of crippling debt overhang. The […]
NNPC Laments Delay in Oil Reserves Development
The Nigerian National Petroleum Company Limited (NNPC) has raised concerns over the prolonged delay in exploiting the country’s vast oil reserves, warning that crude left in the ground holds no economic value unless it is extracted and converted into revenue. Speaking at the 50th Anniversary of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos, […]
NUPRC Targets 40% Share of Africa’s Oil, Gas Investments
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled an ambitious strategy to reclaim Nigeria’s dominance in Africa’s oil and gas investment landscape, setting its sights on securing 40% of the continent’s upstream investments over the next few years. This comes after Nigeria’s share of sub-Saharan Africa’s upstream inflows declined sharply from 44% in 2014 […]
Nigeria Must Maximise Oil Reserves for Economic Growth – CEGA
The Centre for Energy Governance and Accountability (CEGA) has called on the Federal Government to prioritize the strategic management of Nigeria’s vast oil reserves, warning that underutilization could spell long-term economic and security challenges for the nation. This call comes in the wake of the Federal Government’s recent approval of 37 new crude oil evacuation […]
Hire Only Registered Engineers or Risk Sanctions – FG to Oil, Gas Companies
NCDMB Warns Oil Firms Against Hiring Unregistered Engineers, NUPRC Unveils Plan to Boost Local Capacity The Nigerian Content Development and Monitoring Board (NCDMB) has issued a strong warning to oil and gas companies against employing engineers who are not duly registered with the Council for the Regulation of Engineering in Nigeria (COREN). Speaking at the […]
Nigeria Debuts ‘Obodo’ Crude to Shake Up Oil Market
Nigeria has launched a new chapter in its oil production story with the successful market entry of a new crude blend, Obodo, marking a significant milestone for the country’s upstream petroleum industry. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed the first shipment of the Obodo crude cargo in a statement issued on Tuesday, May […]