The Nigeria National Petroleum Company Limited (NNPCL) says Nigeria’s oil output has been raised to 1.7 million barrels per day (bpd), with targets of hitting two million bpd by 2027 and three million in the long term. The company said this growth projection is driven by reforms in the oil and gas sector, which has …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigeria National Petroleum Company Limited (NNPCL) have pledged to continue taking practical steps towards overhauling downstream infrastructure to boost energy sector growth. The agencies made the pledge at the ongoing 2025 Oil Trading and Logistics (OTL) Africa Downstream Energy Week in Lagos. Delivering his …
In its quest to strengthen investor confidence in Nigeria's oil and gas sector and boost production, the federal government has slashed the signature bonus by 90 per cent from about $100 million to $10 million. This is as it targets 2.5 million barrels per day by 2027. Chief Executive of the Nigeria Upstream Petroleum Regulatory …
The federal government has assured that the ongoing rehabilitation of the Abuja–Keffi motorway will be completed by December 2026, despite current challenges. Minister of State for Works, Bello Goronyo, gave the assurance on Thursday during an inspection of the Maraba–Nyanya section of the 43.6-kilometre project. He said about 41 kilometres have been completed up to …
The Nigerian National Petroleum Company (NNPC) Limited has signed a two-year agreement with the Dangote Petroleum Refinery for the supply of crude oil to the refinery. The deal, which was sealed in August, is to ensure steady feedstock to the 650,000-barrel-per-day refinery based in Lagos. This comes amid efforts to maintain crude supply in naira …
The Nigerian National Petroleum Company Limited (NNPC) Ltd has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-graded rehabilitation and retention of the plant. The Group Chief Executive Officer (GCEO) of NNPC Limited, Bashir Bayo Ojulari, announced this at a company-wide town hall meeting on Tuesday at …
By Rafiyat Sadiq The Senate has given the Nigerian National Petroleum Company Limited (NNPCL) a three-week deadline to respond to audit queries concerning N210 trillion recorded in its financial statements from 2017 to 2023. The Senate Public Accounts Committee, chaired by Senator Ahmed Wadada (Nasarawa West), issued the directive during a session with NNPCL’s Group …
Dangote Petroleum Refinery and Petrochemicals FZE has notified the Federal High Court Abuja of its discontinuance of its N100 billion import licence lawsuit against Nigerian National Petroleum Company Limited (NNPCL) and others. The notice of discontinuance dated July 28, 2025, was filed by the refinery’s lawyer, George Ibrahim SAN, Nairametrics reports. “TAKE NOTICE that the …
By Sunday Michael Ogwu Given the 575.5 million barrels produced throughout 2024, Nigeria’s oil industry could have generated an estimated $46.04 billion in revenue from crude oil sales in 2024. According to the most recent reconciled production data for the year by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Nigeria, one of the top oil …
