THE Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has torn to shreds allegations of underhand dealings against its leadership The Commission articulated a strong defence in a statement entitled: “PUBLIC STATEMENT-FALSE AND MALICIOUS ALLEGATIONS TO MALIGN NUPRC LEADERSHIP.” The statement by Mr Bashiru Indabawa, Chairman 2024 Bid Round Committee, NUPRC, is published in extenso hereunder: … Read more
THE Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Friday said that the nation’s crude oil reserves stood at 37.28 billion barrels (bb) as at Jan. 1, 2025. The commission also said that Nigeria’s gas reserves hit 210.54 trillion Cubic Feet (tcf). Mr Gbenga Komolafe, Commission Chief Executive, NUPRC, who stated this said that oil and … Read more
THE Nigerian Upstream Petroleum Regulatory Commission NUPRC has issued stern directives to oil exploration and production companies demanding strict compliance with crude oil supply obligations to refineries in the country. The commission, in a circular issued by its Public Relations Division on Monday, warned that it would deny export licences for crude oil cargoes … Read more
• Says President Tinubu’s Executive Orders and Support acted as Catalysts The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially launched the 2024 Licensing Round, a pivotal moment in Nigeria’s energy landscape. This marks the first licensing round since the implementation of the Petroleum Industry Act (PIA) in August 2021, setting the stage for significant … Read more
The House of Representatives has issued a 96-hour deadline to the Chief Executive Officer of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Engineer Gbenga Komolafe, amid allegations of revenue shortfalls amounting to ₦32,151,775,466.87. These funds, reportedly collected on behalf of the Federal Government between 2015 and 2022, have raised concerns over financial irregularities within the Commission. Chairman of the … Read more
THE Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has given 48 hours deadline to new investors for registration of the 2024 oil block licensing bid round. Mr Gbenga Komolafe made this known on Wednesday at the 23rd 2024 Nigerian Oil and Gas Energy Conference (NOG) in Abuja themed “Showcasing Opportunities, Driving Investment, Meeting Energy Demand’’. Komolafe, in … Read more
THE Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Tuesday announced that with the acquisition of additional data on the oil assets up for sale, it was making available an extra 17 deep offshore for bids. In May, the commission had invited investors to bid for 12 oil blocks and seven deep offshore assets in the … Read more