Tag: Engineer Gbenga Komolafe

NUPRC Goes Tough As 50 Oil Producers, Refiners Bicker Over Domestic Supply Anomaly

ADEOLA YUSUF

  . ‘Henceforth no export permits for crude oil cargoes intended for domestic refining,’ full statement the upstream regulator sent to Platforms Africa      The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has bemoaned the violation of domestic crude supply law by some producers and refiners, declaring that it would “henceforth deny export permits for crude oil cargoes intended for domestic refining, if oil companies do not fulfill their domestic crude obligations.” Platforms Africa reports that this came as more than 50 critical industry players, both the refiners and producers…

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NUPRC Gives Update On 2024 Licensing Round

Aliyu Aliyu

. ‘A Game-Changer for Nigeria’s Oil and Gas Sector,’ what Engineer Gbemga Komolafe said about over 31 oil blocks to delegates at Africa Oil Week Conference   As Nigeria embarks on its 2024 Licensing Round, the combination of robust natural resources, competitive regulatory framework and strategic incentives has created a favorable environment for investors. The country’s commitment to ensuring transparency, social inclusion, and sustainable development further signals a new era of certainty in the Oil and Gas industry. The 2024 Licensing Round therefore offers investors a significant opportunity to contribute…

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Submit Cargo Price Quotes Monthly, NUPRC Orders Oil Producers, Refiners

ADEOLA YUSUF

‘Weeks after Dangote Refinery alleged sabotage by IOCs to starve it of crude stock;’ Here are the details of the crucial meeting where upstream oil sector’s regulator and producers agreed on sustainable crude supply to local refiners   About five weeks after Dangote Refinery alleged sabotage by International Oil Companies (IOCs) to starve it of crude stock, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has directed producers and refiners to provide tje commission with cargo price quotes on crude supply and delivery for effective monitoring and regulation of transactions among…

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Minister, NUPRC Boss Divided Over Nigeria’s Oil Revenue Losses

ADEOLA YUSUF

… Theft, pipeline vandalism responsible for volumes of crude oil losses – Sylva … No, metering error is responsible for Nigeria’s huge oil revenue losses – Komolafe   Nigeria’s minister of state for petroleum Resources, Timipre Sylva, and chief executive of the Nigerian Upstream Regulatory Commission (NUPRC), Gbenga Komolafe, have sharply divided over major factor responsible for crude losses in the country. Komolafe in a document presented at one of major industry events in Nigeria said that measurement inaccuracies is a major factor for huge looses suffered by Nigeria in…

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Marginal Field, Discretional Oil Blocks Allocation Era Gone – NNPC, NUPRC

ADEOLA YUSUF

Kyari appraises NNPC’s PSCs renewal deals with Shell, Chevron , ExxonMobil   The oil sector regulator and government operator on Thursday officially declared the era of marginal fields and discretional oil blocks allocation gone in Nigeria. The Chief Executive, Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, and the Chief Executive Officer of the NIgerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, unanimously said this at the 2022 Strategic International Annual Conference organised by the National Associaton of Energy Correspondents (NAEC) in Lagos. READ ALSO: Nigeria Eyes $500bn, Renews…

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Ministerial Assent to ExxonMobil/Seplat Deals Remains Declined – NUPRC

ADEOLA YUSUF

Nigeria’s oil regulator counters Buhari’s aide on $1.6bn deal in an announcement that has shown that all may not be well with country’s oil sector policy and polity   The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) affirms that status quo remains in respect of ExxonMobil/Seplat Energy share acquisition, Platforms Africa reports. This is contrary to an early declaration by Mr. Femi Adesina, Senior Aide to President Muhammadu Buhari who claimed that his principal has assented to the deal. Platforms Africa has exclusively reported the back and forth on the deals…

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Nigeria Ups Oil Reserves To 37bn barrels, Begins Crude Theft Audit

ADEOLA YUSUF

Here are the details of Country’s new position on mandatory conduct of gas well deliverability tests, gas flaring, below conventional oil window drilling, new automated model for IOCs local and foreign royalty payments; unique identifier for oil cargoes, among others   Nigeria’s total national oil reserves have surged to 37.046 billion barrels. Platforms Africa reports that the data obtained from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which contained this new reserves figure attained as at January 2022, added that the country has also begun a forensic audit of crude…

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BREAKING: No Achievement Record, No Fund Approval – Nigeria Tells IOCs

ADEOLA YUSUF

Nigeria’s oil regulator speaks on Russian-Ukrainian tension, $100 per barrel oil price Nigeria has declared plans to embargo approval of fund hunting for oil firms at its upstream operations unless they present record of their achievements. Platforms Africa reports that the Executive Secretary of the Nigerian Upstream Regulatory Commission (NURC), Engineer Gbenga Komolafe, said this at the Nigeria International Energy Summit (N.I.E.S) in Abuja. It is statutory for oil firms operating in Nigeria to, checks by Platforms Africa showed, seek approval from he authority before funds are sourced from local…

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