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...

FG Loses $3.89bn to Crude Oil Underproduction in Q3 - Report Nigeria's total losses from underproduction of crude oil rise to an estimated $3.89 billion in the third quarter of 2023, despite marginal gains in crude oil production in September, according to industry data analysis. This...

FG Awards First Oil Exploration License Under PIA The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first of such licence to be issued under the Petroleum Industry Act 2021. It said the licence, which was granted by...

Nigeria’s Oil Production Rises to 1.35m barrels/day, Highest In 2023 - Report The Nigerian Upstream Petroleum Regulatory Commission's report has shown that the nation’s crude oil output rose to an all-time high of 1.35 million barrels per day in September 2023, the highest volume so...