NUPRC Aims to Capture 40% of Africa's Oil Investments
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is taking bold steps to reclaim the country’s dominant position in Africa’s oil and gas investment space after its share of sub-Saharan Africa’s upstream inflows plunged from...
Nigeria’s crude oil production rose to a peak of 1.78 million barrels per day (mbpd) in July, the highest level recorded year-to-date (YTD). The July production was about a five per cent uptrend compared to the 1.7 mbpd average output recorded in June.
FG Targets Additional 810,000bpd Crude from Deepwater Fields
The Federal Government has unveiled plans to unlock an additional 810,000 barrels of crude oil per day from Nigeria’s deepwater oil fields through a new cluster and nodal development initiative.
The initiative, championed by the Nigerian Upstream Petroleum...
FG Rakes in N12trn from Oil Royalties as Naira Depreciates
The Federal Government’s earnings from oil royalties and others ballooned from about N4tn to N12tn following the devaluation of the naira. This represents a 200 per cent jump in earnings to the government through its...
