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 …
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 …
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 …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) emerged as the highest among agencies in revenue remittances into the federation account in October 2025. According to data obtained from the Federation Accounts Allocation Committee (FAAC), out of a total of N2.93 trillion revenue remitted by seven agencies, NUPRC remitted N873.11 billion. This represents 29.8 per cent …
Stakeholders in the Nigerian petroleum sector have charted a clearer roadmap for enhancing legislative oversight in the upstream. At a one-day workshop held on Monday, December 1, in Abuja, themed 'Legislative–Stakeholders Synergy for a Transparent and Accountable Upstream Petroleum Sector', stakeholders highlighted ways to ensure transparency and accountability in the Nigerian petroleum sector. It was …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially launched the 2025 licensing Round, with a target of attracting up to $10 billion in investments. The Commission has officially opened the 2025 licensing Round Portal - http://br2025.nuprc.gov.ng for entries by potential investors. Pinnacle Daily had reported that the upstream regulator announced plans to commence the …
Nigeria is to keep its 1.5 million barrels per day oil production as the Organisation of Petroleum Exporting Countries (OPEC) has decided to maintain current crude output levels for member countries until March 2026. The oil producers group took the decision during the 40th OPEC and non-OPEC Ministerial Meeting held on Sunday, November 30, where …
Dangote Petroleum Refinery & Petrochemicals has said it is ready to supply 1.5 billion litres of Premium Motor Spirit (PMS), also known as petrol, per month to the Nigerian market in December 2025 and January 2026. This translates to 50 million litres per day. The refinery also said it will increase PMS supply to 1.7 …
