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...

Rising Cooking Gas Price Due To Undersupply - Kyari       The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has assured Nigerians that the corporation is working with relevant agencies to ensure that the price of gas is affordable by increasing the volume...

Fed Govt Targeting 50bn-barrel Oil Reserves – DPR       The target of the Federal Government is to increase Nigeria’s oil reserves from 36.91 billion barrels to 50 billion barrels in the short to medium term, the Department of Petroleum Resources announced on Monday. Director/Chief Executive, DPR, Sarki...

Nigeria’s Gas Reserves Rise To 206.53tcf – DPR The Department of Petroleum Resources (DPR) says Nigeria has recorded an increase in its proven natural gas reserves to 206.53 trillion cubic feet (tcf) as at Jan.1, 2021 up from 203.16tcf in the previous year. The new figure...

DPR Targets N900bn Remittance Into Federation Account In Q2, 2021       The DPR has said it is targeting to generate and remit about N900 billion into the Federation Account in the second quarter of the year. The agency has also received over $20 billion investment proposals since...

DPR, RMAFC Seek Collaboration On FG’s Gas Revenue Drive       The Department of Petroleum Resources (DPR) and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) have met to seek ways to boost revenues from the country’s gas resources, following the federal government’s renewed interest in the...