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Tag: NUPRC

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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The Nigerian Upstream Petroleum Regulatory Commission has withdrawn its earlier approval for TotalEnergies to sell its minority stake in Shell Petroleum Development Company of Nigeria, delivering a setback to the French oil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 […]

Oil and Gas

Nigeria’s upstream sector attracts $18.2bn investment

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, has announced that the country’s competitive reform agenda has delivered 28 Field Development Plans with $18.2 billion worth of investment commitments. These commitments are expected to unlock 1.4 billion barrels of oil and 5.4 trillion cubic feet of gas, adding an expected 591,000 […]

Business

Nigeria’s upstream reforms unlock $18.2bn investments – NUPRC

Nigeria’s oil and gas sector is witnessing a surge in investor confidence, driven by recent upstream reforms that have unlocked $18.2 billion in Field Development Plans for 2025, while crude oil losses have fallen to their lowest level in more than a decade. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, […]

Business

NUPRC converts Ingentia Energies’ PPL 202 to PML 66

The Nigerian Upstream Petroleum Regulatory Commission has converted Ingentia Energies’ Petroleum Prospecting Licence 202 into Petroleum Mining Lease 66. The conversion agreement was signed on Friday at the commission’s headquarters in Abuja by NUPRC, Ingentia Energies, and its shareholders—Suntrust Oil Company Nigeria Limited, Petrogas Energy Trade W.A Ltd, Somora GTP Limited, Moore Oil Exploration & […]

Business

NUPRC revokes Oritsemeyin rig licence over safety breach

The Nigerian Upstream Petroleum Regulatory Commission has revoked the operating licence of the Oritsemeyin Rig after a drilling incident at the UDIBE-2 wellbore raised serious safety concerns. In a statement posted on its official X on Friday, the commission said the licence revocation followed a review of the UDIBE-2 drilling operation. During the operation, a […]

Business

Gas flaring drops despite production surge, says NUPRC

Nigeria has recorded a major energy milestone as gas flaring dropped to 7.16 per cent in July 2025, despite an increase in daily gas production to 7.59 billion standard cubic feet per day. The Nigerian Upstream Petroleum Regulatory Commission made this disclosure in a statement on Saturday. “The simultaneous growth in output and decline in […]

Business

FG seeks to regain upstream market share in Africa – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission is implementing bold measures to restore the country’s leading role in Africa’s oil and gas investment landscape, following a drop in its share of sub-Saharan Africa’s upstream inflows from 44% in 2014 to 30% in 2022. Addressing the 50th anniversary conference of the Nigerian Association of Petroleum Explorationists in […]

Oil and Gas

Nigeria produced 1.372tn SCF of gas in H1 2025 – NUPRC

Nigeria produced a total of 1.372 trillion Standard Cubic Feet of natural gas between January and June 2025, marking a notable increase from the previous year, according to new figures from the Nigerian Upstream Petroleum Regulatory Commission. The report highlights improvements in gas utilisation, though gas flaring remains a challenge across oil and gas operations. […]

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220 oil blocks remain untapped across Nigeria – NUPRC

Nigeria has 220 open oil blocks across its onshore and offshore basins, according to data from the Nigerian Upstream Petroleum Regulatory Commission. This comes amid rising national debt and persistent crude supply challenges affecting local refineries. The data shows that the deep offshore region holds the largest share, with 59 unlicensed blocks—underscoring the vast untapped […]

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