Oil Earnings Hit N1.68tn in Q1, 2023 Nigeria’s crude oil earnings rose to over N1.68tn in June 2023 following an increase in the country’s output last month, an analysis of latest oil production figures released by the Federal Government showed. Data obtained on Thursday from the...

Nigeria Accounts for 33% of Africa’s gas Reserves, Says FG The Federal Government says Nigeria currently accounts for 33 per cent of the total gas reserves in Africa. While disclosing this through the Nigerian Upstream Petroleum Regulatory Commission on Monday, it added that the gas reserves...

NUPRC Vows Support For Indigenous Oil, Gas Coys With Right Policies The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has reinstated its support indigenous oil and companies with the right policies and regulations to grow. NUPRC Commission Chief Executive (CCE), Mr. Gbenga Komolafe, stated this when he...

First Oil From 2020 Marginal Field Bid Underway - NUPRC   Some of 2020 marginal field bid round investors are on the stage of striking their first oil. It would be recalled that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) concluded the bid mid-last year. Chief Executive Officer,...

Fed Govt Reopens Shut Oil Wells, Projects N29trn Annual Revenue   The Federal Government is reviving shut-in crude oil wells in a bid to produce about 2.1 million barrels of oil daily, with an estimated worth of N2.4tn monthly, from various drilling facilities in the Niger...

Nigeria Loses $2bn To Oil Theft In Eight Months   The ad-hoc committee set up by the Senate to investigate oil theft and consequent damage on the nation’s economy said on Tuesday that Nigeria lost $2 billion, equivalent to N1.3trillion, to oil theft between January and...