3 d. ago Rig Count Rises To 41 As NUPRC Enforces Drill Or Drop Policy

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a significant increase in rig activity, rising from 11 rigs before the Petroleum Industry Act (PIA) to 42 rigs currently in operation. This surge reflects growing investor confidence and a revitalised upstream sector, driven largely by the Commission’s enforcement of the “Drill or Drop” policy. However, […]

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8 d. ago Oando deepens upstream investment with $375m financing deal from Afeeximbank, Mercuria

Tribune Online Oando deepens upstream investment with $375m financing deal from Afeeximbank, Mercuria OANDO Plc has announced that its upstream subsidiary, Oando Oil Limited, has successfully increased its reserve-based loan facility by $375 million following capital injection from Afreximbank and Mercuria. According to a disclosure filed with the Nigerian Exchange (NGX), and signed by the company secretary, Ayotola Jagun, the refinancing of Oando’s reserve-based lending (RBL2) facility was […] Oando deepens upstream investment with $375m financing deal from Afeeximbank, Mercuria Tribune Online

Politics

2 w. ago Tinubu signs executive order to boost oil sector efficiency, investments

From Juliana Taiwo-Obalonye, Abuja In a move to enhance Nigeria’s oil and gas industry, President Bola Tinubu has signed a ground-breaking Executive Order aimed at reducing operational costs, attracting fresh investments, and maximising government revenues from upstream petroleum activities. According to a statement issued by Senan Murray, Office of the Special Adviser to the President […] The post Tinubu signs executive order to boost oil sector efficiency, investments appeared first on The Sun Nigeria.

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2 w. ago Tinubu Signs Executive Order To Cut Oil Project Costs, Boost Revenue

President Bola Tinubu has signed a new Executive Order aimed at reducing the cost of upstream oil and gas projects in Nigeria, a measure designed to attract fresh investment and improve government revenues. Titled the ‘Upstream Petroleum Operations Cost Efficiency Incentives Order, 2025,’ the directive introduces performance-based tax incentives for oil and gas companies that […]

Politics

2 w. ago Tinubu signs executive order to boost oil sector efficiency and investment

From Juliana Taiwo-Obalonye, Abuja   In a move to enhance Nigeria’s oil and gas industry, President Bola Tinubu has signed a groundbreaking Executive Order aimed at reducing operational costs, attracting fresh investment, and maximizing government revenues from upstream petroleum activities. According to a statement issued by Senan Murray, Office of the Special Adviser to the […] The post Tinubu signs executive order to boost oil sector efficiency and investment appeared first on The Sun Nigeria.

Politics

3 w. ago Centre Backs Komolafe On $600bn Lifeline For Africa’s Energy Needs

The African Centre for Energy Investment and Policy (ACEIP) has thrown its weight behind the recent call by Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), for the continent to secure at least $600 billion annually in upstream oil and gas investment — a move the centre described as a […]

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