Oil Firms Commit Additional $23.8m in Competitive Bids   The competition for Nigeria’s oil and gas assets witnessed dramatic turns at the 2025 licensing round organised by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), as several companies committed millions of dollars in additional signature bonuses to...

Nigeria is on course to achieve its target of producing 3 million barrels of crude oil per day by 2030, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Nigeria Earns N41.7trn from Crude Oil in Six Months   Nigeria produced an estimated 295.18 million barrels of crude oil and condensate valued at about $28.08bn (approximately N41.74tn) in the first six months of 2026, reflecting a modest recovery from the second half of last year...

7,942 Permits, 49 Licences Approved in Nigeria’s Oil Sector in Q1 – Report   Nigeria issued 7,942 oil and gas industry service permits and 49 upstream monitoring licences in the first quarter of 2026, reflecting sustained activity in the country’s upstream petroleum sector despite a moderation...

Nigeria’s average daily natural gas production rose to 7.93 billion standard cubic feet per day (bcf/d) in May 2026, a slight increase from 7.88bcf/d in May 2025, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Oil Output Hits 1.53mbpd, Highest in 11 Months   Nigeria’s crude oil production rose to 1.53 million barrels per day (mbpd) in May 2026, the highest level since July 2025, according to the latest OPEC Monthly Oil Market Report. The figure represents a 41,000 bpd increase from...