NUPRC Says Oil Rig Count Now 32, Projects 2.1mbpd in 2025 The Nigerian Upstream Petroleum Regulatory Commission says the country’s oil rig count has risen to 32. The NUPRC Chief Executive, Gbenga Komolafe, announced this during his recent appearance before the Senate Committee on Appropriation. Komolafe said...

FG Rakes in N50tn from Crude Oil in 2024 - Report Data from the Nigerian Upstream Petroleum Regulatory Commission reveled that Nigeria’s crude oil revenue rose to about N50.88tn in 2024. According to NUPRC, an agency of the Federal Government, confirmed that Nigeria produced a total...

NUPRC Begins Oil Export Tracking to Enhance Transparency The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is set to enhance transparency and accountability in Nigeria’s oil and gas sector through the implementation of the Advance Cargo Declaration Solution and the Engineering Audit of Upstream...

FG Approves Sale of Shell’s $2.4bn Onshore Asset to Renaissance Renaissance Africa Energy Company Limited, a local oil and gas consortium, says it has received ministerial consent to acquire Shell Petroleum Development Company. The company announced the development in a statement on Wednesday. The approval was reportedly...

NUPRC Assures IOCs not Exiting Nigeria The Nigerian Upstream Petroleum Regulatory Commission has said that no international oil company is leaving Nigeria despite their divestments. NUPRC’s Chief Executive Officer, Gbenga Komolafe, described the recent divestments by IOCs in the oil sector as “portfolio rationalisation”. Komolafe said at...

'How Six Offshore Licences Were Developed Over The Years'   The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that only six out of the 42 deep offshore licences it granted in the last 30 years have been developed. This was revealed by the Head of the...