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...

Nigeria’s Oil Sector Gets $8bn Lift, Rig Count Hits 46 Crude oil producers in Nigeria have invested $8 billion in rig infrastructure to boost the country’s hydrocarbon output, raising the total number of active rigs to 46, according to the Nigerian Upstream Petroleum Regulatory Commission. The...

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.

Oil Producers Blocked Crude Supply to Dangote, Other Refineries - NUPRC   Efforts of the Nigerian government to mandate upstream oil producers to allocate a portion of their output to domestic refineries were resisted by several companies last year, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)...

FG Secures $16bn Gas Investments in Two Years - NUPRC The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has stated that the Gas sector attracted investments worth $16bn in the past two years. Speaking during the sidelines of the Nigerian Oil and Gas Week in Abuja, NUPRC’s...