Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), has said that Nigeria’s crude oil production output target remained 2.5 million barrels per day (mbpd). He said this on Wednesday in Abuja at the Ministry of Petroleum Resources’ 2026 Management Retreat. The theme of the retreat is: “Driving Institutional Performance and Accountability in the Petroleum…
The Nigerian Navy has intensified its crackdown on crude oil theft, leading to the arrest of 26 crew members linked to illegal activities in the Niger Delta. Rear Admiral Olugbenga Oladipo said the operation was carried out with support from the Office of the National Security Adviser and the Chief of Defence Staff. He added…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the start of the 2025 Licensing Round, effective Dec. 1, 2025, following approval from President Bola Tinubu, who also serves as Minister of Petroleum Resources. NUPRC Chief Executive, Gbenga Komolafe, made the announcement at the Project One Million Barrels Per Day (1MMBOPD) Additional Production Investment Forum…
Nigeria is stepping up efforts to attract foreign investment into its oil and gas sector, with the government pledging competitive incentives and policy stability to win back companies that had previously withdrawn from the market. Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), made the remarks in Abuja on Friday during talks with…
The Chief of Defence Staff (CDS), Gen. Christopher Musa, has pledged the Nigerian military’s support to the South-South Development Commission (SSDC) in securing oil and gas facilities in the region. Musa made the pledge when a delegation of the SSDC paid a courtesy visit to him at the Defence Headquarters in Abuja. He endorsed the…
Nigeria exceeded its OPEC crude oil production quota of 1.5 million barrels per day (bpd) in June, marking the second time it has surpassed the allocation in 2025. OPEC’s Monthly Oil Market Report (MOMR) for July, 2025, obtained by the News Agency of Agency of Nigeria (NAN) revealed that Nigeria recorded 1,505mbpd crude oil production…
Nigeria’s upstream oil sector has recorded a major rebound, with the number of active oil rigs rising from eight in 2021 to 46 as of July 2025, according to new figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Mr Gbenga Komolafe, NUPRC’s Chief Executive, revealed the data on Wednesday at the opening of a…
The Federal Government says Nigeria is currently producing about 1.745 million barrels of crude oil per day (bpd) targeting to hit two million bpd by the end of 2025. Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Oil) said this while declaring the 2025 Nigeria Oil and Gas (NOG) Energy Week open on Tuesday in…
Oando Plc, the indigenous firm that acquired Nigeria Agip Oil Company, says it has recorded four operational oil spills from October 2024 to date. The oil firm disclosed this in a statement made available to the News Agency of Nigeria (NAN) by Oando’s Spokesperson Mrs Alero Balogun, General Manager, Human Resources & Business Support ,…
OPEC has downgraded the forecast for the U.S. oil and condensate production in 2025 by 50,000 barrels per day. Now it expects an increase of 240,000 barrels per day to 13.47 million barrels per day, according to its new report released on Wednesday. According to the table for the report, the figure in 2024 averaged…
