Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has disclosed at the weekend that Nigeria was gradually reversing the investment decline in the oil and gas upstream sector.
Speaking in Lagos after receiving The Sun Public Service Award 2023, during the newspaper’s 21st Anniversary Award Dinner, Komolafe said the country recorded capital expenditure (Capex) worth billions of dollars within the last two and a half years on the back of the implementation of the Petroleum Industry Act (PIA).… Read the rest
Many filling stations are currently closed in the Federal Capital Territory, leading to long queues by motorists at the few outlets that are dispensing Premium Motor Spirit, popularly called petrol.
Operators in the downstream oil sector confirmed that the development was due to the suspension of operations by the Nigerian Association of Road Transport Owners, in fulfilment of their threat to down tools beginning today Monday.… Read the rest
In keeping with Nigeria’s leadership role in the development of Local Content in Africa, the Nigerian Content Development and Monitoring Board (NCDMB) has concluded a two-day Local Content development experience-sharing session with a delegation from Mozambique’s national oil company, Empresa Nacional de Hidrocarbonetos (ENH).
The engagement was held on the sidelines of the 8th Sub-Saharan Africa International Petroleum Exhibition & Conference, in Lagos.… Read the rest
The House of Representatives’ Special Committee on Crude Oil Theft has collaborated with the Nigeria Navy to initiate for effective policing of pipelines and other critical assets in the oil and gas industry with the overall goal to tackle the menace of crude oil theft and pipeline vandalism.
This was as the committee met with the Chief of Naval Staff to strategize on collaborative measures in Abuja.… Read the rest
The recent award recognition and honour of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) as the Regulator of the Year at the just concluded Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC 2024) is a great testament of the commission’s unwavering commitment to upholding regulatory standards within Nigeria’s oil and gas sector.
This recognition is in no small measure underscores the NUPRC’s firm commitment to ensuring compliance with regulations within Nigeria’s vital Oil and Gas industry and prodigious thanks to the man who is leading this great task, Engr.… Read the rest
The federal government says the country currently has about $30 billion in investment commitments from various investors.
Doris Uzoka-Anite, minister of industry, trade and investment, disclosed this at the ministerial media briefing in Abuja organised by the ministry of information and national orientation on Friday.
According to Uzoka-Anite, the commitments will be redeemed within five to eight years.
She said investments, commitments, and pledges were also received from oil and gas free zones.… Read the rest
Nigeria could face a harsher economic climate as members of the Nigerian Association of Road Transport Owners (NARTO) on Thursday threatened to suspend operations on Monday due to rising operational costs.
National President of the organisation, Alhaji Yusuf Othman, in a press statement in Abuja, noted that if no deal is reached before then, members will park their trucks as from that day.… Read the rest
The Nigerian National Petroleum Company Limited/TotalEnergies joint venture has achieved zero routine gas flare in all its assets, NNPCL announced on Thursday.
It said the achievement was in pursuit of meeting the targets of 20 per cent (unconditional) and 47 per cent (conditional) greenhouse gas emission reduction as contained in the Nationally Determined Contribution under the Paris Accord signed by the President Bola Tinubu administration
This feat was announced on Thursday during an inspection tour of OML 100 in South-eastern Niger Delta, off Port Harcourt, by a joint NNPC Ltd and TotalEnergies team to ascertain the success of the OML flare reduction project launched in December 2023,” NNPCL stated in a statement issued in Abuja by its spokesperson, Olufemi Soneye.… Read the rest
This was seen in a memorandum issued by the commission, titled ‘Movement To Lagos,’ signed by Dr Kelechi Onyeakachi Ofoegbu, Executive Commissioner, Corporate Services & Administration, dated February 14, 2024 and obtained by SaharaReporters on Thursday morning.
The Nigerian Upstream Petroleum Regulatory Commission has revealed that it is considering relocating some of its units from the Federal Capital Territory, Abuja to Lagos State.
