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...

Nigeria Produced 159 million barrels of oil in Four Months, Says NUPRC Data from the Nigerian Upstream Petroleum Regulatory Commission shows that Nigeria produced 159,158,191 barrels of crude oil in the first four months of 2024. According to the NUPRC data, 44.2 million barrels of crude...

NUPRC Begins Bidding Round for 12 Oil Blocks The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the bidding process for 12 oil blocks recently listed for sale. It also signals the start of the 2024 Nigeria Petroleum Licensing Round and the resumption...

NUPRC Offers 12 Oil Blocks to Investors as 2024 Bid Round Commences The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, yesterday, disclosed that it has commenced the process for the 2024 oil bid round with 12 oil blocks on offer and seven deep offshore blocks from...