As the 2025 licensing round gets underway, the Federal Government has reduced the signature bonus from $10m to $3m and $7m. The Nigerian Upstream Petroleum Regulatory Commission disclosed this in an update on its website. According to the commission, this was part of the government’s efforts to reduce entry barriers. “Interested in one of the…
The house of representatives public account committee has summoned Bayo Ojulari, the group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited. The committee issued the summons on Monday following Ojulari’s failure to appear before the panel. In a letter read by Bamidele Salam, the committee’s chairman, Ojulari cited a meeting at…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has released $185.12 million and N14.9 billion to the Nigerian National Petroleum Company (NNPC) Limited from the frontier exploration fund. A report had suggested that the funds were being withheld by the commission. But in a statement on, Eniola Akinkuotu, the commission’s spokesperson, denied that the…
Shell Nigeria Gas Limited (SNG) is expanding its operations in Ogun State with an agreement to provide gas to SG Industrial FZE, a steel company in the Guangdong industrial zone. This is part of the milestones support the Federal Government’s Decade of Gas initiative and the broader gas development agenda. The agreement adds to a…
The Dangote Petroleum Refinery has stopped the monthly salaries of the engineers sacked in September during its face-off with the Petroleum and Natural Gas Senior Staff Association of Nigeria. In a bid to address this, PENGASSAN said it is engaging the Dangote Group to resolve the matter amicably instead of resorting to another industrial action….
Chairman of Dangote Group, Aliko Dangote, on Friday said Nigerians will no longer experience fuel queues during the Christmas and New Year seasons. Briefing State House correspondents after meeting with President Bola Tinubu at the Aso Rock Villa, Abuja, Dangote said his refinery has formally notified the Nigerian Midstream and Downstream Petroleum Regulatory Authority of…
State producer Saudi Aramco will reduce the price of its Arab Light grade for Asian customers to a 60-cent premium to the regional benchmark for January, according to a price list seen by Bloomberg. It’s the lowest since January 2021 and a drop that was largely in-line with a survey of refiners and traders. The…
The West African Centre for Oil Governance, WACOG, has urged member states of the African Regulatory Forum, AFRIPERF, to give full cooperation to Nigeria, stressing that the continent stands to gain from a unified platform capable of shaping policies that improve investor confidence and enhance energy security. The charge followed the emergence of the Chief…
The Federal Government has launched a $100 million equity investment scheme aimed at boosting the capacity of Nigerian companies operating in the oil and gas sector. The initiative was unveiled on Tuesday at the 2025 Practical Nigerian Content Forum in Yenagoa, Bayelsa State, by the Executive Secretary of the Nigerian Content Development and Monitoring Board…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted N8.79 trillion to the Federation Account jointly run by the federal government, state and local governments between January and October this year, according to a presentation at the November Federation Account Allocation Committee (FAAC) meeting. The commission also recorded a significant rise in revenue inflows for October…
