Tag: NUPRC

Nigeria’s average crude oil production, including condensates, rose by 7% year-on-year to 1.652 million barrels per day (mbpd) in the first eleven months of 2025, up from 1.544 mbpd in the corresponding period of 2024, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).   This improvement reflects ongoing efforts in enhanced security […]

In a significant move to strengthen governance in Nigeria’s petroleum sector, President Bola Ahmed Tinubu has forwarded nominations for the governing boards of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to the Senate for confirmation.   Former Rivers South-East Senator Magnus Abe has been nominated […]

The Petroleum Technology Association of Nigeria (PETAN) continues to solidify its pivotal role in advancing local content across Nigeria’s oil and gas value chain, while expanding its influence to foster pan-African collaboration in the energy sector.   At its recent 4th Quarter General Meeting and New Members Induction in Lagos, PETAN welcomed additional indigenous service […]

Nigeria’s upstream sector is set for a fresh investment chapter as the NUPRC declared that the 2025 oil licensing round will officially commence on December 1, 2025. The announcement was made at the Project 1MMBOPD Additional Production Investment Forum in London by NUPRC Chief Executive Gbenga Komolafe, who said the move aligns with the Petroleum […]

Reforms in the oil and gas sector under President Tinubu’s administration have unlocked $18 billion in Final Investment Decisions (FIDs), according to NUPRC. Highlights include the $5 billion Bonga North deepwater project by Shell and ExxonMobil, alongside $3 billion in marginal field developments awarded to indigenous firms like Aradel Holdings. Komolafe attributed the surge to […]

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has emphasized that a newly signed Production Sharing Contract (PSC) with TotalEnergies marks a major turning point in Nigeria’s energy trajectory—specifically in its shift toward a gas-powered economy. Key Highlights: First PSC Under PIA with Gas Focus: The PSC between NNPCL, TotalEnergies, and Sapetro, covering 2,000 square kilometers […]