The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that its Project One Million Barrels, launched in October 2024, has led to an increase of 300,000 barrels per day (bpd) in Nigeria’s oil production. The Commission Chief Executive, Engr. Gbenga Komolafe who disclosed this in Abuja during a workshop for journalists, said Nigeria’s oil rig…
Major oil contracts reached a two-week high yesterday after fresh Houthi attacks on shipping in the Red Sea raised concerns over supply disruptions. Reuters reported on Tuesday that four crew members aboard the Greek-operated, Liberian-flagged bulk carrier Eternity C were killed by drones and speedboats off Yemen’s coast. Oil prices dipped slightly during Wednesday’s session,…
The Nigerian Content Development and Monitoring Board has introduced the Nigerian Content Fund Clearance Certificate(NCFCC) as a mandatory compliance document for contractors and operators in the oil and gas sector. In a statement, the General Manager, Corporate Communications of NCDMB, Obinna Ezeobi, PhD, said that the certificate was launched during a Stakeholders’ Sensitization workshop held in Lagos, where the…
The fourth edition of Vision First, the flagship health programme of the Nigerian National Petroleum Company Limited (NNPC) and Shell Nigeria Exploration and Production Company (SNEPCo) began in Mushin Local Council Development Area of Lagos State July 7, allowing people to receive eye and cardiovascular screenings, surgeries, and general health education. On the first day,…
The Nigerian Content Development and Monitoring Board (NCDMB) has organised a sensitization workshop in Lagos aimed at deepening local participation in the oil and gas sector and strengthening financing compliance with Nigerian Content regulations. The Executive Secretary of the Board, Engr. Felix Omatsola Ogbe, while welcoming the participants, explained that the workshop was aimed at…
The Nigerian Upstream Petroleum Regulatory Commission has generated a total sum of N28.11bn in miscellaneous oil revenue tied to licensing fees and renewals within the first five months of 2025. The fund collected by the commission between January and May 2025 was remitted fully to government coffers. This comes amidst the scramble by over 40…
Fresh data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has shown that the Gbenga Komolafe-led upstream sector regulator raised its revenue by 176.7 percent in 2024, as it recorded N12.2 trillion compared to the previous year. During the year under review, the commission’s total revenue was N3.7 trillion, while in 2023 it was…
The Nigerian Upstream Petroleum Regulatory Commission says its gas-centric transition strategy aims to eliminate routine flaring by 2030 and reduce methane by 60 per cent by 2031. The commission’s Chief Executive, Gbenga Komolafe, made this known on Wednesday at the ongoing 24th Nigeria Oil and Gas Energy Week conference 2025. In his keynote address at…
Petroleum products marketers have reduced the price of Premium Motor Spirit in Nigeria. The president of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, disclosed this in an interview with reporters in Abuja. He said its members in Northern Nigeria, including Abuja, have slashed PMS prices from Wednesday to between N930 and N940 per…
Oando PLC has reaffirmed its unwavering commitment to advancing Nigeria’s energy security and transition to cleaner energy solutions. The Chief Executive Officer, Wale Tinubu, spoke during a strategic session themed “Prioritising Energy Security” at the ongoing Nigeria Oil and Gas (NOG) Conference in Abuja. Wale, who was represented by Dr. Alex Irune, Managing Director of…
