FG Ends Signature Bonus Refunds Under Ongoing Oil Sector Reforms The Federal Government has warned prospective investors in the 2025 oil licensing round that any errors, miscalculations, or disappointments arising from the bidding process will be borne entirely by the companies involved, stressing that there...

Nigeria to Seek Higher Oil Quota at Next OPEC Meeting - Lokpobiri The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has disclosed that Nigeria will push for an increased oil production quota at the upcoming OPEC meeting in November, citing improved output...

FG Upholds Revocation of Over 50 Oil Licences, Cites Capacity Gaps The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, has refused to approve the extension of over 50 expired oil licences currently on his table. Lokpobiri stated that over 60 licences were awarded in a marginal...

Lokpobiri Reassures Commitment to OPEC Despite Rising Oil Output The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has assured that Nigeria remains fully committed to the rules of the Organisation of Petroleum Exporting Countries despite recent gains in crude oil output. Lokpobiri said...

FG Tasks Oil Firms to Ramp Up Production The Federal Government has again tasked indigenous oil companies to ramp up production to meet both domestic and export demands and boost revenue remittance to government coffers. The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, made...

FG to Revoke License of Dormant Oil Blocks  The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, threatened to withdraw oil blocks from owners that have failed to develop them. This is against the backdrop of the Federal Government calling on international oil companies operating...