Tag: NUPRC

Global Oil Prices Fall as Trump Signals Iran Peace Deal, Nigeria Exceeds OPEC Quota

Business Damilola Bayonle -
Global oil prices fell sharply on Thursday after United States President Donald Trump announced that planned military strikes against...

Middle East crisis pushes global oil buyers to Nigeria as African producers gain strategic advantage

Business Damilola Bayonle -
Global oil markets are undergoing a significant realignment as geopolitical tensions in the Middle East reshape supply chains, forcing...

Nigeria oil reserves dip as gas resources rise amid shift to cleaner energy strategy

Business Damilola Bayonle -
Nigeria’s oil reserves dip as gas expansion signals energy transition shift Nigeria’s hydrocarbon landscape is undergoing a subtle but significant...

NUPRC signs major offshore exploration deal to unlock Nigeria’s deepwater oil potential

Business Damilola Bayonle -
NUPRC seals new offshore deal to boost Nigeria’s exploration data assets Nigeria’s upstream oil and gas regulator has taken a...

FG fast-tracks dormant oil wells revival as Nigeria targets higher crude output amid price surge

Business Damilola Bayonle -
Nigeria is intensifying efforts to recover lost crude output and capitalise on favourable oil prices, as regulators move to...

Nigeria opens new oil investment phase as NUPRC advances 2025 bid round

Business Damilola Bayonle -
Nigeria’s upstream oil and gas sector is gaining renewed momentum as regulators push forward with reforms aimed at attracting...

Nigeria cracks down on idle oil assets as NUPRC enforces drill-or-drop rule for oil blocks

Business Damilola Bayonle -
Nigeria’s upstream petroleum regulator has intensified efforts to ensure that oil exploration assets are actively developed, declaring that companies...

Reps launch probe into Ogun–Ondo clash over oil-bearing Eba Island

Business Damilola Bayonle -
Nigeria’s lawmakers have stepped into the growing controversy surrounding the Eba Island oil well dispute as the House of...

Tinubu submits 2026 FCT budget to Senate, seeks confirmation of Magnus Abe and other nominees

Business Damilola Bayonle -
President Bola Ahmed Tinubu has formally transmitted the 2026 statutory budget proposal for the Federal Capital Territory Administration (FCTA)...

Crude-backed loans gulped N8.36tn of Nigeria’s 2025 oil revenue as 14% of output went to debt servicing

Business Damilola Bayonle -
Crude-backed loans gulped N8.36tn of 2025 revenue as Nigeria commits 213,000bpd to debt servicing Nigeria’s oil-dependent fiscal structure came under...

NUPRC moves to go fully paperless within 60 6 in transparency drive

Business Damilola Bayonle -
NUPRC launches 60-day plan to digitise operations Nigeria’s upstream oil regulator has set an ambitious transformation agenda as NUPRC launches...

Nigeria misses OPEC target for six straight months, loses N1.76tn in potential oil revenue

Business Damilola Bayonle -
Nigeria loses N1.76tn after missing OPEC target amid production shortfalls Nigeria’s oil-dependent economy forfeited an estimated N1.76tn in potential revenue...