According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country's oil reserves have declined by 50 billion barrels over the past 14 years.  

Nigeria’s Oil Reserves Dropped By 543m Barrels – OPEC           The 2021 Annual Statistical Bulletin of the Organisation of Petroleum Exporting Countries released on Wednesday showed a drop of 543 million barrels in the crude oil reserves of Nigeria. Figures on world proven oil reserves by country...

7,000 Oil Reserves Discovered, Only 1,700 Producing – Fed Govt       The Federal Government on Monday disclosed that out of 7,000 oil reserves that have been discovered in the country, only 1,700 of the reserves are currently producing crude oil. The government disclosed this in Abuja through...

Nigeria’s Oil Reserves’ll Be Depleted In 49 Years – DPR   The nation’s crude oil reserves of 37 billion barrels, two per cent of which is being produced annually, will be depleted in 49 years, according to the Department of Petroleum Resources. The reserves, which stood at...

NNPC, Total Partner To Grow Oil Reserves, Production   The Nigerian National Petroleum Corporation (NNPC) and Total Nigeria have agreed to work together to actualise the country’s aspiration of growing national oil reserves of 40 billion barrels. Group managing director of the NNPC, Mallam Mele Kyari, and...

NNPC Banks On NAPE To Grow Oil Reserves To 40m Barrels   The Nigerian National Petroleum Corporation (NNPC) has indicated it would be looking to oil explorationists under the aegis of the Nigerian Association of Petroleum Explorationists (NAPE) to support its aspirations to grow Nigeria’s crude...