The Minister of State, Petroleum Resources, Chief Timipre Sylva, has said that Nigeria will soon attain two million barrels of daily crude oil production target.
Approximately 40 per cent of the volumes credited to crude losses in the Nigerian petroleum industry are actually attributable to measurement inaccuracies and not theft as often reported.
Nigeria’s oil and gas industry experienced historic crises throughout 2022 as the sector struggled with severe crude thefts and pipeline vandalism constraining output, but will do relatively well this year, a new report has said.
Oil prices plunged to more than three-week lows on Friday. This came after a strong jobs data from the United States triggered concerns about rising interest rates, even as investors sought more information on the EU embargo against Russian refined products.
The Nigerian National Petroleum Company Limited (NNPCL) has said a production quota restriction by the Organisation of Petroleum Exporting Countries (OPEC) could limit its ambition to attain 2.2 million barrels per day in 2023.
Nigeria and other top African producers are expected to witness upstream revival and the launch of several multi-well drilling campaigns in 2023.
ABUJA, Jan 10 (Reuters) – Nigeria’s petroleum regulator has shortlisted 139 companies for the next stage of the country’s gas flaring commercialisation programme, its chief executive said in a statement, part of plans to reduce carbon emissions.
Nigeria’s Upstream Petroleum Regulatory Commission will stage a pre-bid conference Monday, Jan. 16, for seven blocks on offer in the country’s northwestern offshore region.
The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) says the nation’s daily crude oil production has increased to 1.5 million barrels per day due to the successes recorded in the fight against oil theft in the Niger Delta region by the military.
The Nigerian Upstream Petroleum Regulatory Commission, on Sunday, revealed that crude oil production in Nigeria rose to 1.235 million barrels per day in December 2022, representing the highest output since March when the country produced 1.237mbpd