
NNPC receives ₦318bn for frontier oil exploration
Key activities included logging and testing of the Eba-1 well in the Dahomey basin, new drilling in Bida, re-evaluation of Wadi wells in Chad, and reassignment of Ebeni-1 drilling in Benue.
Key activities included logging and testing of the Eba-1 well in the Dahomey basin, new drilling in Bida, re-evaluation of Wadi wells in Chad, and reassignment of Ebeni-1 drilling in Benue.
Lagos — The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, is seeking to advance the development of Nigeria’s deep and shallow offshore fields towards making value of stranded and marginally economic such assets through cluster development mechanisms or arrangements. This formed the thrust of a strategic workshop held in keeping with its mandate as a business…
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The visit was a strategic engagement aimed at strengthening collaboration between the commission and indigenous producers.
This move counters speculation about Exxon Mobil’s potential withdrawal from Nigeria.
The refinery battled crude shortage and entered into a brawl with the Nigerian Midstream and Downstream Regulatory Authority, which accused the refinery of producing substandard diesel.
Dangote Group alleged that the IOCs insisted on selling crude oil to its refinery through their foreign agents,
But regulatory and feedstock issues continue to hinder the pace of progress
Nigeria was unable to produce about 22.658 million barrels of crude oil valued at N1.22tn in the first quarter of this year due to its persistent inability to meet the crude oil production quota approved for the country by the Organisation of Petroleum Exporting Countries.