236m barrels of Crude Oil Produced in Six Months – NUPRC Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) shows that the country produced a total of 236,229,281 barrels of crude oil in the first half of 2024. The report shows that 44.2 million barrels...

FG, IOCs State Commitment Towards Crude Oil Supply to Local Refineries The Federal Government and crude oil producers in Nigeria have committed to working towards a sustainable supply of crude oil to local refineries under a market-determined pricing system. Both parties said the aim of the...

Oil Block: NUPRC Gives 24 hours Deadline to Investors for Licensing Registration The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a 24-hour deadline for new investors to register for the 2024 oil block licensing bid round. This announcement was made by Mr. Gbenga Komolafe, the...

FG Completes $1.5bn Oil Sector Divestment Deals The Federal Government has completed the divestment deals between Nigeria Agip Oil Company and Oando Plc, as well as that of Equinor and Project Odinmim, which jointly worth about $1.5bn. It made this announcement on Wednesday, adding that, as...

FG Withdraws Five Oil Blocks From 2024 Bid Round Over Legal Disputes As investors begin registration for the 2024 Licensing Round, the Nigerian Upstream Petroleum Regulatory Commission has removed five oil blocks from the ongoing licensing round due legal disputes. The five oil blocks, PPL3008, PPL3009,...

FIRS, NCS, NUPRC Experience 131% Surge in costs of Revenue Collection .The Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have experienced a 131% increase in their cost of revenue collection for the first quarter of...