Oando Plc has pledged its commitment to the aspiration by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to raise crude oil production by an additional 1 million barrels per day.
There were indications that Nigeria has gotten close to meeting its 1.7 million barrels per day, bpd, 2024 budget target, yesterday, as oil output rose month-on-month, MoM, to 1.4 million barrels per day, bpd, excluding condensate, in August 2024, from 1.3 million bpd in July 2024, indicating an increase of 3.4 per cent.
Oando PLC has successfully completed its acquisition of the Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni for a total consideration of $783 million.
Nigeria’s average daily crude oil production stood at 1.6 million barrels per day (mbpd) as of July 23, 2024, according to Gbenga Komolafe, chief executive officer (CEO) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Oando Plc, Nigeria’s leading Indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange had announced that Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), for the sale of 100 percent of the shares of Nigerian Agip Oil Company (NAOC) (Acquisition).
Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of NAOC Ltd to Oando Plc.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday said crude oil production increased by 31,629 barrels per day (b/d) from 1.4mb/d in May 2024 to 1.5mb/d in June 2024. This was contained in its June 2024 Oil Production Status Report that the Commission released on its website.
NUPRC Reaches Oil Supply Deal, Directs Refiners To Provide Commission With Monthly Cargo Price Quotes
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled a new initiative, AfriPERF, to fast-track the utilisation of Africa’s vast petroleum resources, which are estimated at 620 trillion cubic feet (Tcf) of natural gas and 125 billion barrels of crude oil.
Nigeria’s crude oil production is expected to rise in the third quarter (Q3) of 2024, as new fields come onstream following the ongoing efforts to revamp existing oil and gas assets to boost output, a report by the Society of Energy Editors (SEE), has revealed.