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...

How Nigeria Lost N249bn In July Due To Oil Output Shortage   Nigeria lost about N249bn crude oil revenue in July following a plunge in the country’s oil output by over four million barrels in the same month, latest oil production data seen on Sunday showed Data...

Zero Emission: Nigeria Lost N373bn to Gas Flaring in H1’23 Despite the commitment of the Federal Government to achieve zero flaring by 2060, gas flaring has increased 10 percent in the first half (January – June) of 2023 to 138.7 million metric standard cubic feet,...

Oil Theft: Nigeria’s Oil Output Falls 5.5% to 1.249 mb/d in Q1, 2023 - OPEC Nigeria's oil production fell 5.5% month-on-month from 1.184 million barrels per day in May to 1.249 million barrels per day in June 2023. Also, on year-on-year, YoY, the nation’s oil output...