OPEC oil output rose in February led by a further recovery in Nigerian supply, a Reuters survey found on Tuesday, despite strong adherence by top producers to an agreement by the wider OPEC+ alliance to cut production to support the market.
Nigeria’s gas export dropped to one million tonnes in January, representing 35 per cent decline year on year, and lower than export volumes by Algeria.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the awarded marginal fields will increase oil production by about 58,000 barrels per day (bpd).
The federal government has identified new oil fields capable of delivering about 681,000 barrels of crude oil per day and 1.52 billion standard cubic feet of gas daily.
The Partner in charge of Energy and Natural Resources at the KPMG Professional Services, Mr. Ayo Salami, has said that the oil blocks recently advertised by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), should be attractive to investors.
Three months after the execution of the Addax Transfer, Settlement, and Exit Agreement (ATSEA) for the PSC Oil blocks, OMLs 123/124 & 126/137, operated by Addax Petroleum Development (Nigeria) Limited, all closing obligations have been concluded and the Assets have finally been transferred to the Concessionaire, NNPC Limited.
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.
Nigeria’s oil production in the month of December 2022 grew by 4.2 per cent month-on-month to 1.23 million barrels per day but remained significantly short of the 1.8 million barrels per day allocated to the country by the Organisation of Petroleum Exporting Countries, OPEC.