Business

IMF warns rising oil prices could drive global

  • 7th March 2026

Women entrepreneurs key to Nigeria’s $1trn economy goal

  • 7th March 2026

Qatar loads first LNG cargo after force majeure

  • 6th March 2026

Ex-AGF seeks FG’s apology after OPL 245 resolution

  • 6th March 2026

Contact Info

Some Populer Post

Emirates to resume Nigerian flights Sept 11

Emirates resumes flights after temporary Dubai suspension

Aviation

IMF warns rising oil prices could drive global inflation

Business

Google CEO Sundar Pichai set for $692m pay package

featured Finance

Women entrepreneurs key to Nigeria’s $1trn economy goal —

Business

Tag: NUPRC

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. […]

featured

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 […]

featured

Nigeria hits OPEC quota first time in five months

Nigeria’s oil and gas sector posted a modest rebound in June 2025, with crude oil production meeting the Organisation of Petroleum Exporting Countries quota for the first time since January. According to figures released by the Nigerian Upstream Petroleum Regulatory Commission on Tuesday, total daily oil and condensate output hit 1.697 million barrels per day, […]

News

Host community trusts get ₦97bn, $149m from settlors – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has revealed that approximately 102 Host Community Development Trusts have received a total of ₦97 billion and $149 million in remittances from settlors. This was disclosed by the Commission’s Senior Manager for Health, Safety, Environment, and Community, Mrs. Chidinma Nwabueze, during a media workshop held on Wednesday in Abuja. […]

Business

Nigeria’s oil rig count surges after $bn investment

Nigeria’s upstream oil sector has received a significant lift, as crude oil producers invested $8 billion in rig infrastructure over the past three years, according to the Nigerian Upstream Petroleum Regulatory Commission. The investment, made between 2022 and 2025, has driven a surge in drilling operations, with 236 wellbores drilled to total depth and the […]

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Email Us: [email protected]

ambusinessng @2025. All Rights Reserved.

Facebook-f Pinterest-p Youtube Instagram Linkedin-in