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Tag: NUPRC

News

IOCs not unwilling to sell oil to Dangote, says NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has said that International Oil Companies (IOCs) did not refuse to sell crude oil to the Dangote plant. This was disclosed by the Chief Executive Officer of the Commission, Engineer Gbenga Komolafe, in an interview with Arise TV on Monday. According to Komolafe, while the Petroleum Industry Act (PIA) […]

News Oil and Gas

Oando seals assets acquisition deal with Agip

The Federal Government announced the completion of oil asset transactions including the Nigerian Agip Oil Company, NAOC, and Oando, as well as Equinor-Project Odinmim divestments. This was disclosed by the Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe at the ongoing NOG Energy Week in Abuja on Wednesday, according to Vanguard. He […]

News

NUPRC deploys fund managers for Host Community Trust Funds

The Nigerian Upstream Petroleum Regulatory Commission stated it had identified 31 competent fund managers to invest 20% of the 3% yearly funds accruing to Host Communities Development Trust Funds. This was disclosed by the Chief Executive Officer of NUPRC, Engr. Gbenga Komolafe in his keynote address during a Town Hall meeting held at Watbridge Hotels, […]

Oil and Gas

Nigeria produced 159m barrels of oil in four months – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has revealed that Nigeria produced 159,158,191 barrels of crude oil in the first four months of 2024 This is according to the recent NUPRC data obtained, according to the Punch. According to the NUPRC data, 44.2 million barrels of crude were produced in January, with an average daily production […]

News

NUPRC assures investors of presidential backing for oil blocks

The Nigerian Upstream Petroleum Regulatory Commission said it has received presidential approval to remove all entry barriers to the licensing round including reducing the entry fee to the barest minimum. This was disclosed by the NUPRC boss, Gbenga Komolafe at the Miami International Roadshow for the 2024 licensing round hosted by the NUPRC in collaboration […]

Global oil supply hits record high in August - IEA
News

NUPRC starts bidding round for 12 oil blocks

The Nigerian Upstream Petroleum Regulatory Commission has opened the bidding process for 12 oil blocks which are currently placed up for sale. It also indicated the start of a Petroleum Licensing Round for Nigeria in 2024, as well as the resumption of 2022/2023’s bidding round, according to The Punch. This was disclosed in a statement […]

Oil and Gas

NUPRC introduces new template for domestic crude oil supply

The Nigerian Upstream Petroleum Regulatory Commission has introduced a new template for the supply of crude oil in Nigeria. The initiative is to enhance the activities of local refineries as well as ensure the availability of petroleum products. This was disclosed by NUPRC Chief Executive Officer, Gbenga Komolafe in his address to the Press on […]

Oil and Gas

Crude oil reserves rise to 37.50bn barrels – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has said Nigeria’s crude oil reserves rose from 36.96 billion barrels to 37.50bb within a year. This was disclosed by NUPRC Chief Executive Officer, Gbenga Komolafe in his address to the Press on Monday, according to Nairametrics. Komolafe said that the increase in the reserves was due to production […]

Oil and Gas

FG may transport crude oil via trucks amids pipeline vandalism

The Federal Government has adopted a virtual means of evacuation of crude oil that involves the utilisation of barges and trucks for the transportation of crude from the point of production to injection/storage points for eventual transportation to export terminals. It said the Alternative Crude Oil Evacuation Systems was deployed to avoid production deferment, losses, […]

Oil and Gas

Shell uses unmanned sailboat to examine pipeline routes

An unmanned surface vessel has been sent out by Shell Petroleum Development Company of Nigeria Limited to investigate pipeline routes in the Niger Delta. The PUNCH recorded that, the USV breakthrough reduced exposure to people and the environment while saving time and money according to Shell. The Media Relations Manager for Shell Nigeria, Abimbola Essien-Nelson, […]

FG's 1,068 oil projects to generate $22.8bn investments
Oil and Gas

FG’s 1,068 oil projects to generate $22.8bn investments

By Melvin Onwubuke   The Federal Government has announced that 1,068 oil and gas projects approved between 2022 and 2023 are expected to generate a total of $22.8 billion. This was disclosed by Gbenga Komolafe, Chief Executive, Nigeria Upstream Petroleum Regulatory Commission, during the panel session at the ongoing 7th Nigeria International Energy Summit in […]

Nigeria to end gas flaring by 2030 - NUPRC
News Oil and Gas

Nigeria to end gas flaring by 2030 – NUPRC

Preparations are in place by the Nigerian Upstream Petroleum Regulatory Commission to terminate gas flaring by 2030. The Punch stated that this was revealed during a lecture given by NUPRC Chief Executive Officer, Gbenga Komolafe, during the 8th Sub-Saharan Africa International Petroleum Exhibition and Conference, which took place in Lagos. Komolafe claimed that the NUPRC […]

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