Author: Makungu Coco

Major oil companies like ExxonMobil and Shell, seeking to exit Nigeria’s onshore oil sector due to security concerns, may receive expedited approval by taking responsibility for spills, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). At a meeting in Abuja, NUPRC chief Gbenga Komolafe proposed a short-term option for faster approval if companies commit to cleaning up spills and compensating affected communities. This option could significantly shorten the approval process, currently slated for June.

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Chevron, the U.S. energy giant, has launched the sale of its interests in two Nigerian offshore oil and gas blocks as part of its strategy to divest aging assets and prioritize its growing U.S. production. The company is offering its 40 percent stakes in Oil Mining Lease (OML) 86 and OML 88, located in shallow-water areas, with current production levels at around 6,200 barrels of oil equivalent per day. The move reflects a broader trend

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Nigeria has launched oil production from a new field in the Niger Delta, aiming to increase its crude output by 40,000 barrels per day (bpd) by the end of May. This development marks a significant step for Africa’s leading oil producer in meeting domestic energy needs and driving economic growth. The upstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), NNPC Exploration and Production Limited, along with Natural Oilfield Services Ltd (NOSL), a subsidiary of

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The Arabian Gulf Oil Company (AGOCO) has successfully reactivated nine wells in the As Sidra Oil Field, significantly boosting production. According to the National Oil Corporation (NOC), this achievement is expected to add approximately 4,000 barrels of crude oil per day to the field’s output. The NOC detailed the technical repairs in a statement released on Sunday. These included fixing faults in the high-pressure electricity network that supplies four wells (C-178, C-221A, C-227, and C-242)

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