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Divestment: NUPRC tidies up $400m abandonment obligations
Clears 94 decommissioning plans Sopuruchi Onwuka Regulator of the Nigerian upstream petroleum industry has declared that it has worked the details of oilfield decommissioning and abandonment obligations among old players that divested their stakes and new players that acquired the…
NUPRC reports drastic cut in production losses, indicts oil firms
Millions of barrels still unaccounted for Sopuruchi Onwuka Nigeria’s upstream petroleum industry regulator has opened the window into the struggle to recover the country’s petroleum liquids output from thieving vandals and dubious players, indicating unfortunately that while significant progress has…
2025 Bid Round: NUPRC flaunts fiscal incentives to investors
Signs PSC with TotalEnergies-Sapetro consortium Sopuruchi Onwuka The government has called on global upstream petroleum industry investment community to seize the advantage of the prevailing regulatory, fiscal and governance regime in seeking exploration licenses in the upcoming next bid round…
Nigeria’s gas export leaps as domsupply, flares dim
Sopuruchi Onwuka Nigeria’s gas production and export began the second half of the year on bullish note with both production and export posting new records while fluctuation in domestic consumption volumes posted disturbing signals. Latest industry production dashboard made available…
Nigeria’s laying regulatory model for Africa’s petroleum industry _Komolafe
Sopuruchi Onwuka Governments of petroleum producing countries in Africa may need to adopt the well conceived and robustly developed regulatory templates that are already in operation in Nigeria as the continent works towards harmonized standards and cross border infrastructure build…
PENGASSAN threatens industrial action over showdown with SEEPCO Limited
Sopuruchi Onwuka The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has demanded the federal government to immediately impose stringent sanctions on Sterling Oil Exploration & Energy Production Company (SEEPCO) Limited for violating numerous labour laws, operating regulations…
NUPRC puts more lenses on oil export processes to curb leakages
Oil theft down to 5kbd, output up to 1.7 mbd Sopuruchi Onwuka Federal government says it is driving a set of measures to ensure enhanced transparency in the nation’s petroleum export processes, plug revenue leakages and curb resource theft in…
Operating capacity is now condition for divestment closure ___NUPRC
Sopuruchi Onwuka Parties in the bulk portfolio divestments in the Nigerian upstream petroleum industry must demonstrate capacity to add value to the operated assets as the key condition for the transaction to secure regulatory approval. According to the Commission Chief…
How Oando shattered the barriers to divestment deals
Sopuruchi Onwuka The late entry of Oando Energy Resources (OER) in the prevailing divestment programme and its rapid progress to secure the first approval from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) now dominate hushed discussions in the industry. Before…
Approve divestment deals and leave production recovery to us __Roger Brown
Sopuruchi Onwuka Independent petroleum companies in the country seeking to replace international oil companies onshore Niger Delta have the capacity to drive the country’s rapid production recovery if pending divestment deals are approved by government. Seplat Energy PLC declared at…
