The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), on Monday, signed a production sharing contract (PSC) with TotalEnergies and South Atlantic Petroleum (Sapetro) for petroleum prospecting licences (PPL) 2000 and 2001.

NNPC Says Prolonged Neglect Hampering Refinery Rehabilitation   The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) Bayo Ojulari, has declared that fixing the country’s refineries under NNPC’s management has been difficult due to the neglect of the plants for decades. He also...

NNPC Laments Delay in Tapping Oil Reserves   The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC) Bayo Ojulari, has warned that Nigeria must urgently turn its oil reserves into production, saying crude in the ground holds no value until it is...

Nigeria Targets $4.5bn Cost Savings in Oil and Gas Sector by December   Nigerian National Petroleum Company Limited (NNPC) has said the country’s oil and gas industry is on course to save between $3 billion and $4.5 billion in operational costs this year, while pursuing investment...

Dangote’s Plan for Direct Fuel Supply Sparks Concerns of Market Disruption   The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has warned that the Dangote Petroleum Refinery’s plan to bypass existing distribution channels and supply refined petroleum products directly to end-users would lead to...

Nigeria is rapidly positioning itself as a top destination for global investors, following a series of bold economic reforms introduced by the Central Bank of Nigeria (CBN) and federal authorities.