The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reassured its commitment to transparency and adoption of merit-based procedures for the emergence of winners of oil and gas blocks in the ongoing 2025 licensing bid round. This was part of the message from the Commission during the 2025 Licensing Round Pre-Bid Webinar held on Wednesday, January …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has paid tribute to the late former president of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade Uche Marcus Okoro, hailing his leadership qualities and dedication to the plight of Nigerian oil workers. Comrade Okoro was one of the passengers who died in the …
Nigeria’s oil production (including crude oil and condensate) dropped to 1.544 million barrels per day (bpd) in December from 1.599 million bpd in November. This reflects a 3.44 per cent decline on a month-on-month basis. This was revealed in the latest Crude Oil and Condensate data 2025 released by the Nigerian Upstream Petroleum Regulatory Commission …
Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said the Federal Government will enforce the “Drip or Drop” principle enshrined in the Petroleum Industry Act (PIA) to ensure the timely utilisation of oil and gas assets by licensed operators. Lokpobiri stated this during the pre-bid conference for the 2025 licensing round held …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Revenue Service (NRS) have strengthened their partnership aimed at boosting revenue collection for the Federation. The decision was taken on Monday, when the new NUPRC Chief Executive, Oritsemeyiwa Eyesan, visited the NRS Chairman, Zacc Adedeji, at the corporate headquarters of the tax agency in Abuja. …
As Nigeria pushes for new investments in the oil and gas industry, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has scheduled to hold a pre-bid conference for the 2025 oil and gas licensing round. In a statement released on Friday, signed by the NUPRC Chief Executive, Oritsemeyiwa Eyesan, the Commission said the licensing round pre-bid …
Analysts at CardinalStone project that Nigeria’s average crude oil output will rise to 1.75 million barrels per day (bpd) up from 1.67 million bpd in 2025. This was contained in their 2026 Macroeconomic Outlook titled “Indicators Align for Sustained Macro Gains,” released on Tuesday, January 6. It said the projection is supported by a sustained …
Former lawmaker, Senator Magnus Abe, has applauded President Bola Tinubu for nominating him as chairman of the board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Senator Abe, who expressed profound gratitude to the President for the appointment, said his love and support for Tinubu was not based on expectations of reward, but on the …
As the key driver of economic development, Nigeria’s energy sector has, over the years, been influenced by events, policies and actions. Nigeria's energy sector in 2026 faces several significant events, all testing whether recent reforms can translate into tangible improvements in oil and gas production, power supply, and investments in other subsectors. The major issues …
Reactions have trailed President Bola Tinubu’s approval for the major write-off of debts owed by the Nigerian National Petroleum Company (NNPC) Limited to the Federation Account, clearing over 90% of legacy obligations up to the end of 2024. A report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) presented during the November 2025 Federation Account …
