Foreign oil companies have been issued a strict 90-day mandate to establish local subsidiaries in Nigeria following the acquisition of operational licenses. This directive, aimed at domesticating the activities of international energy giants, represents a significant move to ensure that the “infrastructure of distribution” for the nation’s natural resources directly supports the local economy and […]
The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has reiterated its dedication to transparent process for the 2025 Oil Bid Round. Speaking at a Pre-Bid Webinar in Abuja on Wednesday, NUPRC Chief Executive Mrs Oritsemeyiwa Eyesan stated that the process is an opportunity for investors to participate in a stable, rule-based system that fosters genuine value […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued permits to 28 companies under the Nigerian Flare Gas Commercialisation Programme (NGFCP). This giant step is to stem the enormous, impact of gas flaring on Nigeria’s budget, public health, and sustainable development goals, making gas utilization a critical economic and environmental imperative. Statistical data put economic […]
The House of Representatives Ad hoc Committee on Decommissioning and Abandonment has faulted the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over alleged non compliance with provisions of the Petroleum Industry Act (PIA). The committee said poor enforcement of the law has continued to hinder proper […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has secured more than $400 million in decommissioning liabilities on recent oil and gas asset transfers. Gbenga Komolafe, Chief Executive Officer (CEO) NUPRC, made the disclosure through his representative, on Thursday at the NEITI Companies Forum in Lagos. “The results from 2024 speak for themselves. Over […]
…sets 2030 deadline to end gas flaring, pushes decarbonisation drive The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has assured that Nigeria is firmly on course to raise crude oil output to 2.5 million barrels per day (bpd) by 2026, even as it unveiled a roadmap to eliminate routine gas flaring by 2030. Commission Chief Executive, […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has assured that its ongoing reforms would result to significant improvements in oil production and achieving energy efficiency in the country. The Commission chief executive officer (CCE), Gbenga Komolafe, expressed optimism about the Commission’s forward agenda which includes: sustaining competitive licensing rounds, accelerating frontier basin exploration; fast-tracking the […]
BY TEMITOPE ADEBAYO Oil and gas companies operating in Nigeria have remitted over N97 billion and $149 million to host communities through the Host Community Development Trusts (HCDTs), according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The Commission’s representative, Ms Chidinma Nwabueze, made this disclosure on Wednesday in Abuja, noting that 102 HCDTs had […]
A body of Niger Delta indigenes have issued a seven day notice to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to reverse the 2024 licensing and 2022/23 Mini Bid Round for oil blocs in the oil rich Niger Delta region, insisting that the process was discriminatory and unlawful as it was in clear violation of […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed the 1.8 million barrels per day (bopd) production figures earlier released by the Nigerian National Petroleum Company Limited (NNPC Limited) at the conference organised by the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos. NUPRC CEO Gbenga Komolafe, who said this to stakeholders, maintained that the […]
Following the allegation of N32 billion revenue leakage levelled against Nigerian Upstream Petroleum Regulatory Commission, NUPRC, by the House of Representatives Committee on Public Account, a Civil Society Group, Media Practitioner in the Energy Sector, MPES has cautioned the Reps Committee to stop raising false alarm against the Commission stating that “No penny is Missing […]
*Over N909m diverted to private accounts BY TOM OKPE House of Representatives Committee on Public Accounts, PAC, has revealed a case of an in-house missing of over N32billion of the Nigeria Upstream Petroleum Regulatory Commission, NUPRC, on revenue generated for Federal Government between 2015 to 2024. The Committee Chairman, Rep Bamidele Salami made this revelation […]
BY MOTOLANI OSENI The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the extension of the deadline for the registration and submission of pre-qualification documents for the 2024 oil block licensing round. Mr Gbenga Komolafe, Commission Chief Executive (CCE), NUPRC, announced the extension in a statement issued on Tuesday. Komolafe said the registration and submission […]
The Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, says Nigeria has the potential to produce 2.2 million bpd as against the current production of between 1.5 million and 1.6 million. Komolafe disclosed this at the 8th Sub-Saharan Africa International Petroleum, Exhibition and Conference (SAIPEC) on Tuesday in Lagos. The News Agency […]
By Godwin Anyebe The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has shortlisted 139 firms that applied for Nigerian Gas Flare Commercialisation Programme (NGFCP). About 300 companies applied to the gas buying and trading scheme to end gas flaring from 48 oil production sites in the country. The Chief Executive Officer (CEO) of NUPRC, Gbenga Komolafe […]
By Joy Obakeye The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has announced the Mini-Bid Round 2022 for new crude oil exploration and drilling activities in the offshore blocs. The Commission said the Mini-Bid Round is an opportunity to spur new exploration and drilling activities in the prospective deep waters offshore Nigeria. The Chief Executive of […]