The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a deadline to 31 companies that won bids for 37 oil and gas blocks in the 2025 Licensing Round, warning that failure to pay signature bonuses on time will result in the immediate forfeiture of their provisional awards. In an official compliance update, the regulator confirmed …
Thirty one companies have emerged winners in the Nigerian Upstream Petroleum Regulatory Commission's (NUPRC) 2025 Licensing Round, with frontier basins capturing unprecedented investor attention for the first time in the nation's oil and gas history. The keenly contested bidding process, which concluded at the Transcorp Event Center in Abuja on Tuesday, saw 143 companies submit …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that submission of technical and commercial bids for the 2025 oil licensing round will close on Friday, June 12, 2026. The Commission made this known in a statement released on Tuesday, June 9, via its official X handle, stressing that the move is in line with …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that registration and submission of applications for pre-qualification for the Nigeria 2025 Licensing Round will close on Friday, February 27, 2026. The Commission made this known in an update shared via its X handle on Wednesday. According to the statement, NUPRC said the portal for the …
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 …
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 …
