The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has generated a total sum of N28.11bn in miscellaneous oil revenue tied to licensing fees and renewals within the first five months of 2025.

FG to Withdraw Oil Licenses from Non-Active Operators   The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has told oil producers that it is set to implement the ‘drill or drop’ policy. The Chief Executive of the NUPRC, Gbenga Komolafe, disclosed this when he received a delegation...

$600bn Needed Annually for Africa's Energy Development - NUPRC    The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Gbenga Komolafe, has said that Africa will require more than $600bn annually in upstream oil and gas investment to meet its fast-growing energy demands. He...

Nigeria's Crude Oil Reserves Now 37.28bn Barrels - NUPRC   The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared the country’s official petroleum reserves position, revealing a staggering 37.28 billion barrels of crude oil and condensate, alongside an eye-popping 210.54 trillion cubic feet of natural gas. This...

Govt Won't Interfere with Crude Oil Prices, NUPRC Reiterates   The Federal Government has reaffirmed its stance against price-fixing for crude oil, emphasizing its commitment to adhering to international best practices. Instead, the government will allow market forces to dictate prices, following the willing-seller, willing-buyer principle. The Chief...

Oil Theft Reduces to 5,000bpd – NUPRC The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that the volume of stolen crude oil in the country has reduced to about 5,000 barrels per day, enabling oil production to rise to 1.75 million bpd as of...