Browsing Tag
Nigerian Upstream Petroleum Regulatory Commission
3 posts
Nigeria’s Crude Oil Reserves Climb to 37.28bn Barrels, Gas Hits 210.54TCF – NUPRC
According to Komolafe, Nigeria’s proven (2P) crude oil reserves now stand at 31.44 billion barrels, with an additional 5.84 billion barrels in condensate reserves. On the gas side, the country holds 101.03 TCF in associated gas and 109.51 TCF in
… Continue Reading
Nigeria loses N636bn revenue as crude oil production drops
Nigeria’s oil production has been on a downward trend since January 2024, leading to a significant revenue loss of about N636.3 billion. According to data obtained from the Nigerian Upstream Petroleum Regulatory Commission, the country’s crude oil production dropped … Continue Reading
Federal Government Grants Indigenous Refineries Option to Purchase Crude Oil in Naira
The Federal Government has responded to the demands of domestic crude oil refiners and operators in the sector by allowing indigenous refineries to purchase crude oil in either naira or dollars.
This announcement was made by the Nigerian Upstream Petroleum … Continue Reading