By ESTHER McWILLIS-IKHIDE NIGERIA recorded a modest improvement in crude oil production in August as the country’s combined crude oil and condensate output rose to 1,677,777 barrels per day. The 0.4 per cent increase came as operators resolved a key operational problem at the Erha field. The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) reported the […]
Despite strong investor participation in the 2025 Licensing Round, 13 oil and gas blocks will be returned to the licensing basket after receiving no bids, the Nigerian Upstream Petroleum Regulatory Commission says. FG Returns 13 Oil Blocks to Licensing Basket After Failing to Attract Bids 37 of 50 Blocks Draw Investor Interest THE Federal Government […]
NIGERIA’S upstream petroleum sector is showing renewed signs of recovery after crude oil production climbed above the country’s Organisation of Petroleum Exporting Countries (OPEC) quota for the first time this year. Industry experts say stronger security around oil facilities, improved operational efficiency and the rehabilitation of critical infrastructure are beginning to reverse years of production […]
Crude Market Reverses Wartime Gains GLOBAL crude oil prices have retreated to levels recorded before the recent conflict involving the United States, Israel and Iran, raising fresh questions about why Nigerian motorists are yet to experience significant reductions in petrol prices. The decline follows a period of heightened geopolitical tensions that pushed international oil prices […]