Tag: NUPRC

‘Resource-Rich, Serious Investment Destination,’ NGA Flaunts Nigeria’s Profiles For WGC 2025

Ganiyu Amodu

The Nigerian Gas Association (NGA) has confirmed its strategic participation at the 29th World Gas Conference (WGC2025), set to take place in Beijing, China. Speaking during a media engagement in Lagos, NGA President, Akachukwu Nwokedi revealed that the Association would host a Nigeria Pavilion at the prestigious triennial event, organized by the International Gas Union (IGU). The Pavilion will spotlight Nigeria’s gas sector progress, highlight investment-ready opportunities, and promote strategic interests under the “Decade of Gas” initiative. “This platform is not just symbolic. It is strategic. It signals Nigeria’s readiness…

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‘It’s Official,’ Nigeria Oil Reserve Is 37.28 Bn Barrels, Gas Reserve Is 210.54 TCF

ADEOLA YUSUF

   ‘I, Engr. Gbenga Olu Komolafe, Commission Chief Executive, hereby declare…” you actually want to read the full official annual national Hydrocarbon Index for 2025 NUPRC Boss Sent to Platforms Africa   Nigeria has declared 37.28 billion barrels as the total oil and condensate reserves and 210.54 trillion cubic feet (TCF) as total gas reserves in its official National Petroleum Reserves Position for 2025. Chief Executive of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC),  Gbenga Komolafe, who officially released the data in a statement to Platforms Africa on Saturday morning,…

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Nigeria Grows National Oil Reserves By 1.45% – NUPRC

Ganiyu Amodu

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has disclosed that the nation grows its national oil and gas reserves by 1.45% and 0.206% respectively in 2024. Commission Chief Executive (CCE), NUPRC , Engr. Gbenga Komolafe disclosed this on Thursday at the Petroleum Industry Stakeholders’ Forum which was held at the Petroleum Technology Development Fund (PTDF) Towers in Abuja. He said, “the upstream sector experienced growth in the national oil and gas reserves by 1.45% and 0.206% respectively in 2024 compared with 2023 and oil production rose by 26% from April…

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NUPRC Disowns Report It Approved Shell’s $1.3bn Assets Sale

ADEOLA YUSUF

“Our position on the Shell, Renaissance multi-billiondollar oil deal,” here is a read-for-yourself statement the Commission’s spokesperson, Olaide Shonola, sent to Platforms Africa   Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disowned a publication in the Busnessday of September 11, 2024, that the Commission has accepted Shell International Plc’s bid to sell its onshore assets to Renaissance in a transaction worth $1.3 billion. Platforms Africa reports that the commission, which said this in a statement by Head, Public Affairs and Corporate Communication, Mrs Olaide Shonola, firmly stated that the information…

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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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‘Weed Them Out,’ PETAN Exposes Antics of Oil Sector’s ‘Middlemen Businesses’

Aliyu Aliyu

. ‘How they (‘middlemen businesses’) cast shadow on the competencies and integrity of Nigerian oil and gas operators,’ PETAN’s Wole Ogunsanya talks on deepening ties with NCDMB, NUPRC   Petroleum Technology Association of Nigeria (PETAN) has reaffirmed its commitment to Support the federal government’’s effort to weed out ‘Middlemen Businesses’ ,as it advocates for local content in the nation’s oil production. Platforms Africa reports that PETAN Chairman and CEO, Geoplex Drillteq Limited , Engr. Wole Ogunsanya, made the statement while speaking during a panel session where he was one of…

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NUPRC Staff Kicks, Gives Reason Tinubu Should Withdraw Shaw’s Appointment

Ganiyu Amodu

Workers of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have expressed reservation at the appointment of Ms. Olaide Shaw as Director in the Commission. They implored President Ahmed Bola Tinubu to quickly redress the appointment, insisting that “a purported and unsubstantiated Presidential Directive signed by the Principal Secretary, Hakeem Muri Okunola to President Tinubu directing the Commission Executive Director, Engr. Komolafe Gbenga to employ Ms Olaide as Director “”goes contrary to the adherence to the established rules and regulations governing recruitment, promotion and cadre placement practices within the Commission.” In…

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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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NUPRC, NNPC’s Crude Oil Theft Figures Outrageous, Impractical – Navy

Aliyu Aliyu

How Chief Of Naval Staff punctured 400.000 barrels daily loss figures by oil minister, others   There is a significant miscalculation in determining how much Nigeria is losing in terms of oil theft because oil losses due to other factors are often lumped together as theft, the Chief of the Naval Staff, Vice Admiral Awwal Gambo, has disclosed. This is a puncture on the figures given by Nigerian Upstream Regulatory Commission( NUPRC) and the Nigerian National Petroleum Company (NNPC) Limited may not be correct. The Naval Chief, Vice Admiral Awwal…

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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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