In Two Months, Oil Earning Increases by by N450bn – FG An analysis of data in the latest reports on Nigeria’s oil production shows that crude oil earnings by the Federal Government increased by about N449.93bn in the months of December 2023 and January 2024. Although...

1,068 Approved Oil Projects To Attract $22.8bn Investments – FG   About 1,068 oil and gas projects approved between 2022 and 2023 that are currently ongoing across the country are to attract a total of $22.8bn, the Federal Government announced on Wednesday. It disclosed this during a...

NUPRC Movement: Major Onshore, Offshore Oil Operations are in Niger Delta, Not Lagos   A staff of the Nigerian Upstream Regulatory Commission (NUPRC), has countered the explanations of its CEO that the posting of staff to the Lagos office has no connection with its operations at...

Nigeria Has Potential to Produce 2.2m Oil bpd – NUPRC The Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe says Nigeria has the potential to produce 2.2 million bpd as against the current production of between 1.5 million and 1.6 million. Komolafe disclosed...

FG to Revoke Unused Oil Licences, Award New Leases The Nigerian Upstream Petroleum and Regulatory Commission has said the Federal Government is planning to revoke unused oil exploration leases that companies were granted but have not been able to carry out any exploration activities on...

Nigeria Crude Producers Demand Dollar Payment from Refiners Local crude oil producers in Nigeria are demanding to be paid with United States dollars as the currency of their operations by local refiners in Nigeria. The producers made the demand at a meeting with the Nigerian Upstream...