The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday said crude oil production increased from 1.4mb/d in May 2024 to 1.5mb/d in June 2024. This was contained in its June 2024 Oil Production Status Report that the commission released on its website. The report is a reflection of an unstable oil production as the figures…
The Federal Government has announced the addition of 17 deep offshore oil blocks to the 2024 Licensing Round for oil fields in Nigeria. Recall that some deep offshore blocks were recently put on offer for the 2022/23 mini-bid round and other blocks which cut across onshore, continental shelf and deep offshore terrains were also put…
The House of Representatives has passed a resolution against granting of consent by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to divest International Oil Companies (IOCs) until there is full compliance with the guidelines for decommissioning and the regulations made under the Petroleum Industry Act. The resolution was contained in a motion by Honourable Ikenga…
The Federal Government is planning to revoke unused oil exploration leases that companies were granted but have not been able to carry out any exploration activities on them. The Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe disclosed this while speaking to newsmen on Monday. Komolafe said that the Federal Government is…