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…
Shell Companies in Nigeria (SCiN) have paid combined royalties of $1.208 billion dollars to the Nigerian government last year. This was disclosed in Abuja as the oil multinational kicked off its participation at the 24th Nigeria Oil and Gas Conference and Exhibition in Abuja with an elaborate exhibition on their operations which drew commendation from…
The federal government has warned that it will not hesitate to revoke the Licences granted to oil field operators if they fail to embark on exploration at a given period of time. Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, issued the warning at the ongoing 2025 Nigeria Oil and Gas Energy Week…
Seplat Energy Plc, foremost Nigerian independent energy Company, on the 25th and 26th June 2025, successfully trained 50 journalists covering the Capital Market, Judiciary, Finance and Business on Media Entrepreneurship. The training, which was organized by the Company in conjunction with ELOH Consulting Limited, brought together 50 journalists covering Capital Market, Judiciary, Finance and Business…
Shell Nigeria Exploration and Production Company Ltd (SNEPCo), a subsidiary of energy giant Shell, has acquired a 12.5 percent stake in Nigeria’s Bonga.The transaction is valued at $510 million and is still subject to customary conditions, including regulatory approvals. TotalEnergies confirmed the divestment in a statement issued in Paris, noting that its subsidiary, TotalEnergies EP…
The Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit, popularly known as petrol, from N880 to N840 per litre. Spokesman for the Dangote Group, Anthony Chiejina, confirmed the price adjustment to on Monday night, saying the new rate took effect on June 30. “PMS price has been reduced from N880 to…
Shell Nigeria Exploration and Production Company (SNEPCo), a subsidiary of Shell Plc, on Monday confirmed plan to acquire TotalEnergies’ 12.5 % stake in deepwater Bonga Field. Consequence upon this, an agreement has been signed by the two parties. Shell confirmed the divestment in a statement on Monday, saying the transaction, when completed, will increase its…
