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NAOC Divestment: Time to dismantle transaction clogs
Sopuruchi Onwuka It has become necessary and even urgent for regulators in the industry to evolve a smooth process for implementation of the relevant sections of the Petroleum Industry Act relating to entry and exit of investors in the upstream…
NUPRC sets up regulatory against revenue loss
As part of the effort to stop oil theft and illegal financial flows in the country, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that the commission has come up with a policy framework that will enhance proper monitoring,…
FG extends deadline for deepwater licensing round
Sopuruchi Onwuka The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared extension of bid submissions for the ongoing mini bid round for award of exploration rights in the nation’s deep offshore sedimentary basins. Commission Chief Executive (CCE), Engr Gbenga Komolafe,…
‘Investment impasse, not theft, accounts for oil output fall’
Output decline to continue until NUPRC rises to duty NNPC must yield local tussle for value driven partnerships His voice commands power in the petroleum industry where he has traversed the full activity routes and provided leadership to different professional…
Investors hit pre-qualification deadline for Nigerian mini-bid round applications
Sopuruchi Onwuka End of month deadline for investors seeking right of play in the country’s petroleum industry comes to an end today as Nigeria puts some seven exploration blocks on aiction. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had in…
NNPC, NUPRC take different routes to oil loss mitigation
Sopuruchi Onwuka The controversy surrounding industrial scale stealing of crude oil from the operations of players in the upstream petroleum industry in Nigeria is receiving separate responses from the industry regulator and national oil company that manage government’s commercial interest…
ExxonMobil-Seplat Deal: When regulator overrides the minister
Sopuruchi Onwuka The sturdy grip of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on the moves by the American multinational petroleum giant, ExxonMobil, to divest its Nigerian affiliate to indigenous independent energy firm, Seplat Energy Plc, has thrown up the…
Marginal fields: 161 firms get licenses for 57 fields
Federal government has finally delivered the long awaited Petroleum Prospecting Licenses (PPLs) to some 161 indigenous companies that qualified from the 2020 marginal bid round. The awards which were distributed by Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Tuesday at…
Forced marriages: FG brokers partnerships among 57 oil field licensees
Sopuruchi Onwuka Federal government has declared successful resolution fears raised by the awardees of marginal oilfield licenses in working out partnership arrangements that would lead to formation of organizational structures for operating the assets. Chief Executive of the Nigerian Upstream…
