Tag: Nigerian Upstream Petroleum Regulatory Commission (NUPRC)

Nigerian Govt Approves Amendment Of Deep Offshore Oil Block Bid Round

Abibat Babalola

President Muhammadu Buhari has approved the amendment of the 2022/2023 Deep Offshore oil block mini-bid process to accommodate concerns raised by potential local and international investors. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) stated in Abuja on Saturday that the amendments would address concerns over the terminal date of the current administration to the closure of the bid schedule. READ ALSO: Anthony Joshua Wins, Beats Jermaine Franklin By Unanimous Decision DSS Arrests Man Who Vowed To Invite IPOB To Lagos Comedian, Ijoba Lande, Explains Why He Ran Away From Home…

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Nigeria To Auction Seven Oil Blocks Offshore Lagos November

Abibat Babalola

Nigeria government has concluded plans to offer for sales seven fresh deep offshore oil block licences in November, 2022. According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Chief Executive, Gbenga Komolafe, the oil blocks available are at depths of between about 1,200 meters (3,936 feet) and 3,100 metres offshore Lagos. This last time the federal government issued dozens of such permits was between 1993 and 2007, and it was meant to open up the ocean floor to oil and gas production. READ ALSO: Buhari Disowns Finance Minister, Backs Emefiele…

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EXCLUSIVE: Buhari Declines Ministerial Consent For ExxonMobil $1.6bn Assets’ Sale To Seplat

ADEOLA YUSUF

. NUPRC Confirms Platforms Africa Exclusive, writes ExxonMobil to veto deals + word-for-word content of the letter . Real reason Buhari declined Ministerial Consent, ordered all parties in the transaction to revert status quo . The NNPC right of first refusal that made the deal to hit the rock . How Platforms Africa broke news in a world-class exclusive over two months ago   Nigeria’s President Muhammadu Buhari has declined Ministerial consent for ExxonMobil’s $1.6bn assets’ sale to Seplat, Platforms Africa reports authoritatively. Buhari, the substantive minister of Petroleum Resources,…

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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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