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FG flaunts fiscal incentives, low-cost environment in 2026 licensing round
Federal government has pledged to provide investors in the upstream petroleum industry with generous fiscal and operating incentives, assuring them that access to the country’s upstream oil and gas assets has been made easier and more regular for willing players….
PETAN seeks innovative funding to unlock Nigeria’s 3mbpd oil target
Sopuruchi Onwuka Nigeria’s aspiration to boost oil and gas production must go beyond setting targets to addressing critical funding crunch inhibiting investments in exploration and development drilling in the oil and gas industry, the Petroleum Technology Association of Nigeria (PETAN)…
FG drives over 1,000 host community projects in Niger Delta
The Federal Government says it is driving more than 1,000 host community development projects across the Niger Delta as part of efforts to address restiveness and create a more conducive operating environment for petroleum industry players. The Chief Executive of…
Flare gas commercialization: Policy targets, jubilant licensees and investment reality
Sopuruchi Onwuka Federal government is getting increasingly impatient with the slow progress made by the licensees of the Nigeria Flare Gas Commercialization Programme (NGFCP), threatening to revoke their awards of access to flare gas at the nation’s oil production sites;…
Full access to assets: FG offered 56 oil blocks in 3 yrs, plans frequent bid rounds
The Federal Government is stepping up efforts to revive activity across Nigeria’s oil-producing provinces through a sustained programme of oilfield licensing and development, as the country targets crude production of three million barrels per day by 2030. The Nigeria Upstream…
Oil firms register 172 Host Community Trusts, record improved stability
NUPRC to probe SEEPCO-Anambra Dispute The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that 172 Host Communities Development Trusts (HCDTs) have been established and registered by oil and gas operators across the country under the Petroleum Industry Act (PIA)….
Multiple taxation: FG stokes concerns with $300 Helicopter Levy on petroleum operators
Despite persistent concerns in Nigeria’s petroleum industry over the growing burden of taxes, levies, fees and other statutory charges imposed on operators, the Federal Government has approved a fresh $300 levy on helicopter operations, raising new questions about the cost…
Nigeria lost $194bn upstream investments in nine years — NUPRC
Nigeria lost more than 90 per cent of its annual upstream petroleum investment over the nine-year period between 2014 and 2023, with capital inflow into the sector collapsing from about $24 billion in 2014 to approximately $2 billion in 2023….
FG returns to crude oil swap as fuel prices defy DCSO, Naira-for-crude objectives
The Federal Government is moving to revive a crude oil swap arrangement with domestic refiners as part of a renewed effort to contain escalating fuel prices that have pushed road transportation, airfares and the broader cost of living beyond the…
Domestic crude oil market suffers glut as refineries turn down 15.64 Mbbls
Domestic refineries in Nigeria absorbed 53.7 million barrels of crude oil and condensate in the second quarter of 2026, as increased local production and stronger implementation of the Domestic Crude Supply Obligation (DCSO) provided refiners with substantial volumes of feedstock….
