Tag: #CrudeOil
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NUPRC TO ENFORCE ‘DRILL-OR-DROP’ RULE ON NON-PERFORMING OIL LICENCES
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it will enforce the “Drill-or-Drop” provisions of the Petroleum Industry Act (PIA) 2021 against oil licence holders who fail to meet their statutory obligations. NUPRC Chief Executive, Mrs Oritsemeyiwa Eyesan, disclosed this, on Friday September 18, in a circular to holders of licences awarded under the 2020…
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NAVY DISCOVERS, DEACTIVATES SUSPECTED ILLEGAL CRUDE OIL FACILITY IN RIVERS
The Nigerian Navy has discovered and deactivated a suspected illegal crude oil storage facility containing an estimated 93,000 litres of suspected stolen crude oil in Rivers State. The operation was carried out by personnel of Forward Operating Base BONNY on Thursday at Allison Community in Bonny Local Government Area under Operation DELTA SENTINEL, following intelligence…
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NIGERIA EXCEEDS OPEC QUOTA FOR THIRD CONSECUTIVE MONTH
Nigeria exceeded its Organisation of Petroleum Exporting Countries (OPEC) crude oil production quota for the third consecutive month in July 2026, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The commission said in its July production report that Nigeria produced an average of 1.505 million barrels of crude oil per day, alongside 0.17 million…
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NIGERIA EXCEEDS OPEC OIL PRODUCTION QUOTA AS OUTPUT HITS 74-MONTH HIGH
Nigeria’s crude oil and condensate production rose to an average of 1.735 million barrels per day (bpd) in June 2026, marking the fourth consecutive month of growth and pushing the country above its Organisation of the Petroleum Exporting Countries (OPEC) production quota. Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that crude…
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NNPC POSTS N60.5TRN REVENUE, N5.7TRN PROFIT IN 2025
Despite operational hiccups, Nigeria’s oil giant stays profitable. The Nigerian National Petroleum Company Limited has announced N60.5 trillion in revenue and N5.76 trillion profit after tax for 2025, according to its December report. Average crude oil output was 1.54 million barrels per day, while natural gas production averaged 6,914 mmscfd, peaking mid-year at over 7,500…
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NNPC REPORTS SLIGHT DIP IN SEPTEMBER PRODUCTION AMID STRATEGIC MAINTENANCE, POSTS N216 BILLION PROFIT
The Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded 1.61 million barrels per day (mbopd) of crude and condensate production in September 2025, slightly down from 1.65 mbopd in August, according to its monthly report. Natural gas output also moderated, reaching 6,284 million standard cubic feet per day (mmscf/d), compared to 6,949 mmscf/d the previous…
