The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called on the Independent Petroleum Producers Group (IPPG) to uphold industry benchmarks, invest in human capital, and strengthen corporate governance. The Commission Chief Executive, Mrs. Oritsemeyewa Eyesan, made the appeal during a courtesy visit by an IPPG delegation led by its Chairman, Mr. Adegbite Falade, at NUPRC's …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has taken steps to digitise its procurement system as part of measures to promote transparency and accountability in its procurement operations. The Commission has also partnered with the Bureau of Public Procurement (BPP) to boost its level of compliance with procurement practices to over 95 per cent. …
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, …
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to work towards increasing Nigeria’s crude oil production to a 2 million barrels per day (mbpd) target. The minister made the call during a meeting with the NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, at the Federal …
Nigeria has exported the first cargo of its newly introduced Cawthorne crude grade, with approximately 950,000 barrels en route to India's Sikka port. A report by Platts, part of S&P Global Energy, said a spokesperson for the Nigerian National Petroleum Company (NNPC) Limited confirmed the development, saying the shipping was done during the weekend following regulatory approvals …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially declared that the country's total oil and condensate reserves stand at 37.01 billion barrels as of January 1, 2026, with a reserve life index of 59 years. This means that at the current production level, the oil reserves are expected to last for 59 years. In a statement …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has taken significant steps to boost the country's oil production, approving a major new exploration license while also streamlining the process for bringing idle wells back online. The Commission signed a Petroleum Exploration Licence (PEL) No. 5 agreement with a partnership led by SeaSeisGeophysical Limited and global data company TGS. According …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is conducting an investigation into the gas bubbling incident within the OML 18 area in Bille Community, Rivers State. It urged residents to remain calm and await the outcome of the findings. The Commission empathised with the community and acknowledged the concerns that the unfortunate development …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the completion of the pre-qualification stage of the 2025 Licensing Round and shortlisted bidders for the 50 oil blocks offered by the Commission. It said it has notified successful pre-qualified applicants. NUPRC made this known in a statement released on Tuesday, March 17, signed by the …
Nigeria’s oil sector faced a significant gross oil revenue shortfall of approximately ₦24.47 trillion over the 2024 and 2025 fiscal years, Pinnacle Daily’s analysis has shown. This gap stems from the disparity between the ambitious revenue projections set in the national budgets of 2024 and 2025 and the actual receipts collected by the federation. The …
