The Nigeria National Petroleum Company (NNPC) Limited says its flagship upstream subsidiary, NNPC E&P Limited (NEPL), hit 355,000 barrels per day (bpd) of oil production, its highest daily output since 1989. It said the increased production was achieved on December 1, 2025. In a statement released on Tuesday, the national oil firm said the average …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has dismissed recent reports alleging that it is deliberately withholding the Frontier Exploration Fund (FEF) from the Nigerian National Petroleum Company Limited (NNPCL). Addressing the allegations, Eniola Akinkuotu, the Head of Media and Strategic Communication, in a statement on Monday, December 8, confirmed that the Commission has approved …
As registration for the 2025 licensing round continues, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has listed 50 oil blocks covering onshore, shallow water, and deep offshore areas. The Commission, which launched the 2025 licensing round on December 1, announced a slash of signature bonus to between $3 million and $7 million as approved by …
Maintenance costs incurred by airlines in Nigeria are expected to reduce by over $200 million annually as the Federal Government, Boeing, and the UK-based Cranfield University partner to set up a world-class Maintenance, Repair, and Overhaul (MRO) facility in Nigeria. President Bola Tinubu, who made this known last week during the maiden Nigerian International Airshow, …
The Economic Community of West African States (ECOWAS) has strongly condemned the attempted military coup in the Benin Republic, describing it as a “subversion of the will of the people of Benin.” In a statement released on Sunday by the ECOWAS Commission, the regional group commended the West African nation’s army for responding swiftly and …
The government of the Federal Republic of Benin said on Sunday that the attempted coup by a group of soldiers had been thwarted. A group of soldiers, led by Lt-Col Pascal Tigri, had appeared on state television and announced that they had removed President Patrice Talon from office and suspended the constitution. The country’s interior …
Chevron Nigeria has expressed its intention to participate in the 2025 petroleum licensing round, hailing the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its activities aimed at boosting the oil and gas business in the country. The Chairman and Managing Director of Chevron Nigeria/Mid-Africa Business Unit, Jim Swartz, gave the commendation when he visited the …
The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has unveiled steps for participation in the 2025 Petroleum licensing round. The Commission formally launched the 2025 licensing round on Monday, December 1, 2025, with the official unveiling of its licensing portal. It says activities lined up for the licensing round will come in phases. In a video …
President of Dangote Group, Alhaji Aliko Dangote, has once again restated his call on African entrepreneurs to think of bringing their investments home. Dangote, who spoke at the Imo State Economic Summit 2025 on Thursday, argued that domestic investments attract foreign investments. “One advice that I have is that most of our own entrepreneurs please …
Dangote Petroleum Refinery and major oil marketers have set new lower prices for Premium Motor Spirit (PMS), commonly known as petrol, amid rising competition in the downstream market. Pinnacle Daily’s checks showed a slight drop in petrol prices at various depots by major importers and the Dangote Refinery. The price adjustment comes after a drop …
