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NUPRC
Nigeria’s crude oil production experienced a slight decline in October 2024, dropping from 1.54 million barrels per day (bpd) to 1.53 million bpd.
The new tax reform bills under consideration at the National Assembly propose to halt revenue collection by federal agencies such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Customs Service (NCS).
The federal government has approved the sale of ExxonMobil’s onshore assets to Seplat Energy, more than two years after the $1.28 billion deal was initially agreed.
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has rejected the proposed $1.3 billion sale of onshore oilfields to the Renaissance Group, citing the buyer’s lack of qualification to manage the assets, according to a Reuters report.
Femi Soneye in this piece responded to the critic of NNPC by renowed lawyer, Muiz Banire.
Nigeria’s crude oil and condensate productions have increased to 1.53 million barrels per day in the month of July, this is according to data from Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Oando PLC has successfully completed its acquisition of the Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni for a total consideration of $783 million.
The Federal Government has issued a strong warning to firms and individuals with oil block licenses who have failed to secure investment or undertake exploration activities, stating that their licenses will be revoked if they do not comply.
Dangote Refinery, others raise local crude requirements to 597,700 barrels per day amid tight supply
Crude oil producing companies in Nigeria are expected to supply Dangote refinery and other local refineries about 597,700 barrels per day (bpd) of crude in the next five months to meet local demands.
The management of Dangote Refinery has reaffirmed its stance that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is not upholding the Petroleum Industry Act (PIA) regarding the domestic supply of crude oil to local refineries.
Italian Oil Major, Eni, said it has received the approval of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell its unit, Nigerian Agip Oil Company (NAOC), to Oando.
The Chief Executive Officer of the Dangote Refinery, Aliko Dangote met with the top executives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian National Petroleum Corporation Limited (NNPC), to brainstorm on solutions to the challenges facing the oil sector in the country.