Abuja, Nigeria – October 6, 2025The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a dramatic resurgence in Nigeria’s oil and gas sector, highlighting a 762% increase in rig count and over $40 billion in new investments — four years after the enactment of the Petroleum Industry Act (PIA). In a statement released on Sunday…
Members of the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) on Monday barricaded the Nigerian National Petroleum Company Limited (NNPCL) headquarters in Abuja, alongside the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) offices, kicking off a nationwide strike. The protest follows the alleged illegal dismissal of…
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), earned N5.21 trillion from crude oil, gas, and related activities between January and June 2025. This marks 42.7% of the total N12.2 trillion revenue recorded for the entire 2024 fiscal year. However, the half-year figure represents just 34.7% of the N15 trillion target set…
Nigeria has 220 unallocated oil blocks across its onshore and offshore basins, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), even as the country grapples with rising debt and crude supply shortages that are affecting local refining. The deep offshore region accounts for the highest number of these open blocks—59 in total—reflecting…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to enforce its ‘drill or drop’ policy, urging oil producers to either commence production within a set timeframe or forfeit their licenses. NUPRC Chief Executive, Gbenga Komolafe, revealed this during a recent meeting with a delegation from the Independent Petroleum Producers Group at the commission’s…
