Upstream

…….by Ben Ndubuwa…. The energy sector in Nigeria is witnessing a transformative shift, driven by proactive government policies and investments aimed at bolstering national economic growth. Recent developments highlight the growing optimism within the industry, with major players such as Shell Nigeria making substantial commitments to expand production. In a significant move, Shell Nigeria Exploration and Production Company Limited (SNEPCo) ...

The 2024 oil licensing bid round in Nigeria has concluded with significant shifts in the oil industry, highlighted by the absence of major international oil companies (IOCs) in the bidding process. This year’s bid round has been described as a landmark event, marking a clear departure from previous years when IOCs were at the forefront, especially in bidding for deepwater ...

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to launch another oil licensing round in 2025, the Commission’s Chief Executive, Gbenga Komolafe, revealed on Wednesday during the 2024 Licensing Round Commercial Bid Conference in Lagos. This announcement comes as the NUPRC nears the conclusion of the 2024 licensing round, which is part of the regulator’s ongoing efforts to boost ...

……..by Ben Ndubuwa……. Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has announced its final investment decision (FID) on the Bonga North project, a significant deep-water oil development off the coast of Nigeria. Bonga North will be developed as a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility, where Shell ...

……….Seplat Energy becomes Nigeria’s leading independent energy company as 1,000 staff and 500 contractors will transition to the Seplat Group……. Seplat Energy Plc, a leading Nigerian energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, is delighted to announce that it has completed its acquisition of Mobil Producing Nigeria Unlimited (“MPNU”) from ExxonMobil . The ...

ExxonMobil on Wednesday said its annual project spending will rise to between $28 billion and $33 billion between 2026 and 2030 as it looks to boost its oil and gas output by 18%. This follows its acquisition of U.S. shale producer Pioneer Natural Resources. The top U.S. oil producer laid out a five-year plan to increase earnings by $20 billion ...

………..by Ben Ndubuwa……. The Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), organized by the Petroleum Technology Association of Nigeria (PETAN), is set to hold its 9th edition from February 11-13, 2025, at the Eko Convention Centre in Lagos. The event, strategically partnered with the Nigerian Content Development and Monitoring Board (NCDMB), will bring together over 6,000 stakeholders, including representatives ...

The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe, has called for unwavering commitment to eradicate corruption, particularly in Nigeria’s vital oil and gas sector. Gbenga Komolafe, Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Komolafe made the call at a workshop organised by the commission to mark the International Anti-corruption Day on Monday, ...

The Nigerian National Petroleum Company Limited (NNPC Ltd) has affirmed there is no inconsistency between its crude oil production figures and those provided by the Nigerian Upstream Petroleum Regulatory Company (NUPRC). NNPC’s Chief Corporate Communications Officer, Mr. Olufemi O. Soneye, made this clarification following media reports suggesting a disparity between the 1.54 million barrels per day (mbpd) for September cited ...

……..by Ben Ndubuwa….. The Nigerian National Petroleum Company Limited (NNPC) has introduced a new crude oil blend, the Utapate, to the international market, marking a significant milestone in the country’s efforts to increase oil production and revenue. This strategic move is expected to bolster Nigeria’s position in the global oil market and contribute to the nation’s economic growth. The Utapate ...