The update was shared via the official X handle of the GCEO on Sunday, who described the report as a demonstration of accountability and measurable progress across the oil giant’s operations. Providing a breakdown of achievements between April 2025 and April 2026, the company said its upstream subsidiary, NNPC Exploration and Production Limited, also recorded…
The commission’s decision to file an application for leave to appeal followed a directive from the Office of the Attorney General of the Federation, which swiftly coordinated the government’s response to the judgment. This was disclosed in a mailed statement issued by the African Energy Chamber and obtained by our correspondent on Thursday in Abuja….
This warning came from the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyewa Eyesan, who urged indigenous operators to urgently invest in human capital development or risk undermining the industry’s long-term viability. She charged the Independent Petroleum Producers Group to uphold industry standards, strengthen human capital development, and promote good corporate governance. This…
The Managing Director of Renaissance Africa Energy Company Limited, Engr. Tony Attah has predicted that many indigenous oil and gas operators in Nigeria will within the next decade consolidate strategically and form consortiums to take advantage of emerging opportunities. He stated this when he made a presentation at the Nigerian Content Academy Lecture on Thursday,…
The Nigerian National Petroleum Company Limited has announced a revenue collection of N2.68 trillion from its economic activities in February 2026, even as crude oil production declined to 1.51 million barrels per day amid pipeline outages and operational setbacks. The company reported a 4.2 per cent increase in revenue for its February 2026 operations, rising…
OPEC on Sunday agreed to boost oil production by another 206,000 barrels daily, which will be theoretical only as production in the Middle East remains constrained by the Strait of Hormuz crisis. The move was expected, with reports saying the eight OPEC members that are managing their production stand ready to start adding barrels quickly…
Wale Edun, minister of finance and coordinating minister of the economy, has called on the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to push the petroleum industry harder to hit 2 million barrels per day (bpd). Edun spoke on Thursday when Oritsemeyiwa Eyesan, chief executive officer (CEO) of NUPRC, visited the headquarters of the ministry of…
In keeping with its mandate, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, is committed to improving upstream sector performance, enhancing the growth of oil and gas reserves, and ensuring stable production for shared prosperity via operationalisation of the Petroleum Industry Act, 2021 (PIA), and implementation of the strategic pillars of the Commission. The commission’s spokes…
The African Export-Import Bank (Afreximbank) said Tuesday it has underwritten $2.5 billion of a $4 billion senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals FZE. Afreximbank and Access Bank were appointed co-mandated lead arrangers for the five-year facility to consolidate existing financing, optimise its capital structure, and align with the refinery’s operational status…
The Central Bank of Nigeria has approved the full repatriation of export proceeds by international oil companies, allowing them unrestricted access to 100 per cent of their foreign exchange earnings through authorised dealer banks. This is a significant departure from the phased framework that has governed their forex access since 2024. The directive, contained in…
