Nigeria’s oil output rose to 1.663 million barrels per day (bpd) in April, representing a 7.58 per cent increase from 1.546 bpd recorded in March 2026. According to data released on Tuesday by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), crude oil production alone averaged 1.488 million bpd in April, achieving 99.2 per cent of …
The exit of the United Arab Emirates (UAE) from the Organisation of Petroleum Exporting Countries (OPEC) has raised concerns about its impact on global energy markets, especially for oil-dependent economies like Nigeria. While the UAE’s move is largely informed by its shift toward expanding production capacity and diversifying its economy, analysts say the implications could …
The Nigerian National Petroleum Company Limited (NNPC) has announced a significant financial performance for March 2026, reporting a Profit After Tax (PAT) of ₦276 billion. The company also recorded an increase in oil and gas production within the period. According to the NNPC Limited Monthly Report Summary for March 2026 released on Monday, the national …
The Nigerian National Petroleum Company Limited (NNPC) saw its profit after tax drop by 64.67 per cent to ₦136 billion in February 2026, down from ₦385 billion in January, despite a 4.2 revenue increase to ₦2.68 trillion. The sharp profit decline came as crude oil and condensate production fell to 1.51 million barrels per day …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that over $10 billion in new investments have been unlocked in the Nigerian upstream oil and gas sector signalling a significant resurgence of production activities. The NUPRC Chief Executive, Oritsemeyiwa Eyesan, made this known during the 2026 Oloibiri Lecture and Energy Forum in Abuja on Thursday, …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is set to launch Project NEXUS, a flagship transformation initiative aimed at enhancing regulatory efficiency and positioning Nigeria as a leading energy hub in Africa. The announcement was made by NMDPRA Chief Executive Saidu Mohammed at the 26th Oloibiri Lecture Series and Energy Forum (OLEF) held in …
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Nigerian government to declare a state of emergency on crude oil and gas production in the country as part of efforts to boost the energy self-sufficiency drive. PETROAN National President, Dr Billy Gillis-Harry, who appeared on Channels Television Business Morning on …
Chairman of the Alliance for Economic Research and Ethics (AERE), Dele Oye, has raised concerns that Nigeria is having a shortfall of 360,000 barrels daily and losing at least ₦28.3 trillion annually in additional revenue as oil prices have surged above $100 per barrel due to the ongoing war involving the United States, Israel, and …
Nigeria’s oil production declined by nine per cent month-on-month to 1.483 million barrels per day (bpd) in February 2026, down from 1.627 million bpd recorded in January. This is according to the latest report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which tracks crude oil and condensate production. On a year-on-year basis, output also …
Nigeria is set to begin exporting a new crude oil grade called 'Cawthorne' in March 2026. This new stream is part of the country's broader strategy to boost its crude production and expand its presence in the global oil market. A Reuters report said a spokesperson of the Nigeria National Petroleum Company Limited (NNPC) confirmed …
