Tag: NUPRC
NUPRC Addresses Ongoing IOC Divestments: Clarifies Status of Oando, Eni-AGIP, Seplat, and Mobil Transactions
Abuja, Nigeria – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a detailed statement regarding the ongoing divestment activities involving major International Oil Companies (IOCs), including Oando, Eni-AGIP, Seplat, and Mobil Producing Nigeria Unlimited (MPNU). The update, delivered on August 26, 2024, by the Head of Public Affairs Unit, Mrs. Olaide Shonola, is part…
Minister of State Petroleum Resources Hosts Crucial Meeting with Dangote, NMDPRA, NUPRC, and NNPC Leadership
Abuja, Nigeria – Distinguished Senator Heineken Lokpobiri, the Honourable Minister of State Petroleum Resources [Oil], hosted a high-level meeting with key stakeholders to address and resolve ongoing issues surrounding the Dangote Refinery. Attending the meeting were prominent figures in Nigeria’s oil and gas sector: The stakeholders expressed their gratitude to the Honourable Minister for his…
Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment
In a significant move aimed at reviving Nigeria’s oil and gas industry and bolstering its contribution to the economy, Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy, presided over a signing ceremony endorsing the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector. The ceremony took…
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Outlines Ambitious Action Plan to Boost Oil Production and Reduce Costs
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has set its sights on increasing oil production and reducing production costs as part of its 2024–2026 action plan. With the aim of ramping up oil production from 1.8 million barrels per day (bbl/d) to 2.6 million bbl/d by 2026, the NUPRC is implementing a series of strategic…