Petroleum Industry Act
Fierce clash: NUPENG vs Dangote sparks fuel scarcity fear
Nigeria is bracing for possible fuel scarcity beginning next week following threats by tanker drivers under the Petroleum Tanker Drivers (PTD) branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to halt fuel loading nationwide. The union announced on Friday that it would withdraw its services from Monday, September 8, 2025, in […]
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 […]
N341tn oil reserves lie undeveloped in Nigeria
Nigeria is sitting on crude oil reserves valued at a staggering N341 trillion, locked away in undeveloped fields across the country’s oil basins, according to a new report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The report revealed that more than 3.5 billion barrels of oil and condensate reserves remain idle, even as the […]
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 […]
Dangote Drops Lawsuit Over Fuel Import Permits
In a significant legal development, Dangote Petroleum Refinery and Petrochemicals has formally withdrawn its lawsuit challenging the issuance of fuel import licences by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to the Nigerian National Petroleum Company Limited (NNPCL) and several independent oil marketers. The notice of discontinuance, filed at the Federal High Court […]
West Africa Imports 69% Petrol Despite Refinery Surge – NMDPRA
Despite significant investments in refining infrastructure across West Africa, the region continues to rely heavily on imported petroleum products, with nearly 69 per cent of its gasoline supply sourced from overseas markets. This was disclosed by the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, at the Global Commodity […]
Fuel Marketers Approve Refinery Divestment, Project Price Relief
Oil marketers and industry stakeholders have expressed strong support for the proposed sale or privatisation of Nigeria’s long-dormant refineries under the management of the Nigerian National Petroleum Company Limited (NNPC Ltd), citing the potential for increased market competition, operational efficiency, and ultimately lower fuel prices for consumers. Their reactions follow the candid remarks by NNPC’s […]
NLNG: Results-Driven Strategy Key to Unlocking Gas Potential
Nigeria LNG Limited (NLNG) has declared that the key to unlocking Africa’s vast natural gas potential lies not just in its reserves but in a deliberate, results-driven approach across the entire gas value chain. This was the resounding message delivered by the company’s Managing Director and Chief Executive Officer, Dr. Philip Mshelbila, during a strategic […]
FG Set to Revoke Dormant Oil Licences Under New Policy Framework
The Federal Government has unveiled a strict enforcement of its long-standing ‘drill or drop’ policy, which mandates oil producers to either commence production within a defined period or forfeit their operational licences. This strategic policy shift was confirmed by the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, during a […]
NNPCL, Heirs Energies Deliver Healthcare Support to Communities
The Nigerian National Petroleum Company Limited (NNPCL) and Heirs Energies, under the NNPC/Heirs Energies Joint Venture for OML 17, have commenced a large-scale medical outreach programme across host communities in Port Harcourt, Rivers State. The initiative, spearheaded by the OML 17 Host Communities Development Trust (HCDT), is being executed across 15 community centres, targeting an […]