Tag: NUPRC

In a notable stride for Africa’s largest oil producer, Nigeria achieved 99.2% compliance with its OPEC crude oil production quota in April 2026, averaging 1.49 million barrels per day (bpd). According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country produced an average of 1,488,540 barrels of crude oil daily, narrowly missing […]

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a strong call for collaborative, cross-sector action to resolve longstanding constraints in the gas-to-power value chain, as Nigeria continues to grapple with chronic electricity shortages despite vast natural gas reserves. NUPRC Commission Chief Executive Oritsemeyiwa Eyesan made the appeal on Thursday during her goodwill message at […]

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a major boost to the country’s petroleum sector, securing $18.2 billion in investment commitments through 28 newly approved Field Development Plans (FDPs) in 2025. These projects are projected to unlock 1.4 billion barrels of oil and 5.4 trillion cubic feet (TCF) of gas, significantly advancing Nigeria’s […]

Nigeria has recorded a significant recovery in its oil sector, adding approximately 400,000 barrels per day (bpd) of production since 2023 through targeted reforms, improved security in the Niger Delta, and enhanced infrastructure.  According to reports from the Office of the Special Adviser to the President on Energy, onshore output has surged to around 1.6 […]

Coronation Group’s latest outlook, which projects Nigeria’s crude oil production stabilising at 1.7 million to 1.8 million barrels per day (bpd) in 2026—well below the Federal Government’s ambitious 2.5 million bpd target set by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Coronation Group, a leading Nigerian financial services firm offering investment management, wealth advisory, insurance, […]

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially opened the 2025 Licensing Round, offering 50 high-potential oil and gas blocks across onshore, shallow water, deepwater, and frontier basins in a bid to attract approximately $10 billion in new investments and add up to 400,000 barrels per day of crude oil production. Speaking at the […]

Nigeria is preparing to launch its 2025 oil and gas licensing round on 1 December 2025, marking the second consecutive annual bidding exercise and reinforcing the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) commitment to predictable, transparent upstream governance. Coming just one year after the highly praised fully digital 2024 round, the 2025 exercise is positioned […]

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has reiterated Nigeria’s position as the most attractive investment destination in Africa’s oil and gas sector, citing the country’s more than 37 billion barrels of proven crude oil reserves and its status as the continent’s largest producer. Speaking during a courtesy […]

Nigeria’s upstream sector is set for a fresh investment chapter as the NUPRC declared that the 2025 oil licensing round will officially commence on December 1, 2025. The announcement was made at the Project 1MMBOPD Additional Production Investment Forum in London by NUPRC Chief Executive Gbenga Komolafe, who said the move aligns with the Petroleum […]

Reforms in the oil and gas sector under President Tinubu’s administration have unlocked $18 billion in Final Investment Decisions (FIDs), according to NUPRC. Highlights include the $5 billion Bonga North deepwater project by Shell and ExxonMobil, alongside $3 billion in marginal field developments awarded to indigenous firms like Aradel Holdings. Komolafe attributed the surge to […]