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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said it has recovered more than 50 fallow oil fields from licence holders who failed to meet their development obligations under the Petroleum Industry Act, saying it will…
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Former Cross River State Governor Donald Duke has questioned the high cost of petroleum products in Nigeria, saying the prices are adding to the financial difficulties faced by ordinary citizens.Duke spoke during an interview with…
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There was a time when some everyday services came without an extra charge. From road tolls to shopping bags and other little conveniences, Nigerians could enjoy them without having to dig deeper into their pockets. But as businesses…
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Shell Nigeria Exploration and Production Co. has engaged a one-well option for Borr Drilling’s Nattjackup rig offshore Nigeria. Borr disclosed this in its recent contracting updates.This should keep the rig contracted to…
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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has scheduled a new licensing round for 2026 as part of an aggressive strategy to expand the country’s oil production capacity.The regulator also unveiled plans to…
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Prof Wumi Iledare Energy expert and petroleum economist, Prof. Wumi Iledare, in an interview on Arise, explained that the question about the N11.2 trillion should be about the value the country derived from the expenditure.“Energy…
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…As NUPRC approves 120 FDPs, records $47bn investment commitments in 5 years Oritsemeyewa EyesanThe federal government yesterday opened the 2026 Nigerian Licensing Round, putting 40 oil blocks across onshore, shallow-water, and…
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There are moments when a transaction becomes larger than the transaction itself. Dangote Petroleum Refinery and Petrochemicals’ decision to come to the Nigerian Exchange is one of them.At ₦2.15 trillion, the offer is Africa’s…
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Oil prices rose on Wednesday as the market weighed supply constraints from a storm heading for US oil-producing regions and attacks by Yemen’s Iran-backed Houthis on Saudi Arabia against increased supplies of ​Middle East crude.…
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Nigerian households are delaying major purchases, including homes, landed property and investments, as worsening consumer confidence and rising living costs put pressure on household finances, according to the Central Bank of…
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