Nigeria Loses N34.1bn As Oil Firms Flare 12.7 mscf   Despite Nigeria’s dwindling revenue, oil and gas companies operating in the country flared 12.7 million standard cubic feet (mscf) of gas in July 2023, according to the latest data from the National Oil Spill Detection and...

Nigeria Accounts for 33% of Africa’s gas Reserves, Says FG The Federal Government says Nigeria currently accounts for 33 per cent of the total gas reserves in Africa. While disclosing this through the Nigerian Upstream Petroleum Regulatory Commission on Monday, it added that the gas reserves...

Fed Govt Plans 13 Fresh Oil Sector Policies   The Federal Government will in the coming weeks, release 13 new regulations in the upstream sector of the oil and gas industry. This was revealed by the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)...

First Oil From 2020 Marginal Field Bid Underway - NUPRC   Some of 2020 marginal field bid round investors are on the stage of striking their first oil. It would be recalled that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) concluded the bid mid-last year. Chief Executive Officer,...

Fed Govt Reopens Shut Oil Wells, Projects N29trn Annual Revenue   The Federal Government is reviving shut-in crude oil wells in a bid to produce about 2.1 million barrels of oil daily, with an estimated worth of N2.4tn monthly, from various drilling facilities in the Niger...

OPEC Says Nigeria’s Oil Output Rises By 4% To 1.235 mb/d   Nigeria’s oil output rose by four per cent month-on-month, MoM, to 1.235 million barrels per day, mb/d in December 2022, from 1.186 mb/d in November 2022. On Year-on-Year, YoY performance, the nation’s oil output also...