Abuja, Nigeria – July, 2025 The Nigerian oil and gas industry has secured a total investment commitment of $16 billion over the past two years, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This milestone reflects growing investor confidence in the country’s energy sector despite global uncertainties and domestic challenges. NUPRC Chief Executive, Gbenga
Abuja – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to begin the tracking of all crude oil cargoes leaving the country, in a move aimed at curbing oil theft, improving transparency, and safeguarding the nation’s most critical revenue source. The Commission made this disclosure on Thursday, stating that the initiative is part
In a significant move to bolster economic cooperation and transparency, the Ministry of Petroleum Resources, alongside three key agencies under its supervision, recently participated in the International Monetary Fund’s (IMF) Article IV Consultation in Nigeria. The agencies involved were the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA),
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a significant update on Nigeria’s hydrocarbon reserves, revealing that the country’s crude oil and condensate reserves now stand at a combined total of 37.28 billion barrels. This figure includes 31.44 billion barrels of crude oil and 5.84 billion barrels of condensate. Additionally, Nigeria’s natural gas reserves
