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Tag: NUPRC

Business

Eyesan assumes office as NUPRC Chief, vows upstream sector growth 

The newly appointed Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Mrs Oritsemeyiwa Eyesan, has assumed office, pledging to advance the growth of Nigeria’s upstream oil and gas sector in line with the Petroleum Industry Act 2021. In a statement by the Head of Media and Strategic Communications, Eniola Akinkuotu, Eyesan outlined her […]

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NMDPRA, NUPRC chiefs step down

The chief executives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Petroleum Regulatory Commission, Engineers Farouk Ahmed and Gbenga Komolafe, have stepped down from their positions. The development was confirmed in a statement issued on Wednesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy. Following the […]

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$185m, N14.9bn frontier exploration fund released to NNPCL – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has revealed that more than $185 million (approximately N268.4 billion) and N14.9 billion have already been released to the Nigerian National Petroleum Company Limited from the Frontier Exploration Fund. The Commission’s Head of Media and Strategic Communication, Eniola Akinkuotu, made this disclosure in a statement on Monday, responding to recent reports […]

Business

NUPRC sets December 1 for 2025 oil licensing round

The Nigerian Upstream Petroleum Regulatory Commission has confirmed that the 2025 Oil Licensing Round is set to begin on December 1, 2025. This was disclosed by the Commission’s Chief Executive, Engr. Gbenga Komolafe, during the Project 1MMBOPD Additional Production Investment Forum in London on Tuesday. In a post on X (formerly Twitter), the NUPRC quoted […]

Oil and Gas

NUPRC urges Bank of America to fund Nigeria’s upstream oil sector

The Nigerian Upstream Petroleum Regulatory Commission has urged the Bank of America to prioritize Nigeria’s upstream oil and gas sector in its investment portfolio to attract funding and boost oil production. NUPRC’s chief executive, Gbenga Komolafe, made the call during a meeting with Chuba Ezenwa, managing director and head of investment banking, Sub-Saharan Africa, Bank […]

Business

Host community trust fund rises to ₦373b, says NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has announced that the Host Community Development Trust Fund has grown to ₦373 billion as of October 13, 2025, with 536 development projects currently underway across oil-producing regions. In a statement on Monday, the Commission’s Head of Media and Strategic Communications, Eniola Akinkuotu, said the fund includes ₦125 billion […]

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Oil and Gas

Refiners, NUPRC disagree over reasons for crude oil scarcity

The Nigerian Upstream Petroleum Regulatory Commission has revealed that 11 crude oil cargoes offered to local refiners in a single month went uncollected, despite persistent complaints from the refiners regarding a scarcity of crude supply. byThe Chief Executive of NUPRC, Gbenga Komolafe, who was represented by commission official Boma Atiyegoba during a panel session at […]

Business

NUPRC unveils gas development roadmap to unlock untapped reserves

The Nigerian Upstream Petroleum Regulatory Commission has launched a comprehensive Gas Development Roadmap to unlock more than 55 trillion cubic feet of untapped gas reserves and attract billions of dollars in investment across Nigeria’s gas sector. The Commission stated that the initiative has already drawn approximately $4.9 billion in capital expenditure within the country’s gas […]

Business

NUPRC reports 762% surge in rig count, new investments

Nigeria’s upstream petroleum regulator has announced major progress in the oil and gas sector, reporting a 762 per cent increase in rig count, billions of dollars in new investments, and sweeping reforms just four years after its creation. In a statement on Sunday, the Nigerian Upstream Petroleum Regulatory Commission, through its Head of Media and […]

Oil and Gas

Nigeria’s crude oil losses drop to 16-year low — NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has announced a significant reduction in crude oil losses, dropping to 9,600 barrels per day as of September 11, 2025. This marks the lowest level of crude oil losses since 2009, representing a 90% reduction from the 102,900 barrels lost in 2021. The commission’s statement was in response to […]

Business

NUPRC withdraws approval for TotalEnergies’ SPDC stake sale

The Nigerian Upstream Petroleum Regulatory Commission has withdrawn its earlier approval for TotalEnergies to sell its minority stake in Shell Petroleum Development Company of Nigeria, delivering a setback to the French oil major’s plans to offload aging assets and reduce debt. Reuters reported on Tuesday that the move disrupts TotalEnergies’ strategy to divest mature, high-emission […]

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