Global Oil & Gas Upstream & Trading

Upstream Oil & Gas, Shale Oil, Exploration & Production, Enhanced Oil Recovery, Oil Blocks , Mergers & Acquisitions, FPSO, Crude Oil Trading, Energy Education.

[Alessandro Bazzoni @Alessandro7596]

Nigeria’s upstream oil and gas sector is currently undergoing a major policy shift alongside rapid operational acceleration, highlighted by the NUPRC approving 145 new well-drilling operations, 595 well re-entries, and 39 Field Development Plans (FDPs) during the first 10 months of 2026.
The fundamental news driving the Nigerian upstream market includes the following key developments;
- Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reveals that total crude and condensate production averaged 1.69 million barrels per day (bpd) in October 2026. This is a minor 1.7% dip from September's 1.72 million bpd.
- Quota Consistencies: Excluding condensates, strict crude production stood at 1.51 million bpd. This marks the sixth consecutive month that Nigeria has met or exceeded its OPEC-assigned production quota (representing 101% of its target).
The highest producing fields for October were Forcados (318.49 kbpd), followed closely by Bonny (311.02 kbpd) and Qua Iboe (173.97 kbpd).
At the recent Nigerian Association of Petroleum Explorationists (NAPE) conference, the Tinubu administration announced an explicit policy pivot managed by Olu Arowolo Verheijen (Special Adviser on Oil and Gas). The focus is transitioning away from mere resource discoveries toward project execution, immediate production growth, and industrial renewal.
The NUPRC is officially launching its 2026 Licensing Round on Friday, 20 November 2026. The round will put 40 oil and gas blocks on offer across land, shallow water, and deepwater terrains to address the high volume of idle, unallocated blocks.
Driven by regulatory certainties tied to the Petroleum Industry Act (PIA), Nigeria's active drilling rig count reached 46 active rigs this year out of over 100 available—a massive 300% jump compared to 2021 baselines.
Dangote Eyes Upstream Expansion: Following the launch of his $30 billion refinery asset, billionaire Aliko Dangote stated at the NAPE conference that his conglomerate is ready to invest heavily in upstream production. His target includes tripling historical peak output to 70,000 bpd via assets managed by West African Energy Partners (WAEP), with jack-up drilling rigs arriving in December 2026.
•  Multi-client seismic companies have funneled over $100 million into regional sedimentary exploration since the PIA’s enactment. To secure these investments, the NUPRC has stepped up anti-theft operations, employing the Advanced Cargo Declaration program alongside coordinated surveillance by the Nigerian Navy and Tantita Security Services.

[Engr Dapper @EngrDapper]

Everything you need to know about the pipelines that move Nigeria’s oil and gas.

This is a Good Read!!! ⬇️

[NUPRC @NUPRCofficial]

NUPRC Approves 595 Well Re-Entries, 145 New Drilling Operations, 39 Field Development Plans in 10 Months as Total Rig Count Hits 100

The NUPRC has approved 595 well re-entries, 145 new well-drilling operations and 39 Field Development Plans (FDPs) year-to-date in 2026, in a move to boost oil production, attract investment and strengthen Nigeria’s energy security.

The Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, disclosed the figures in Lagos on Tuesday, November 10, 2026, during a presentation at the management session of the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE), held under the theme, “Energy Security in an Era of Global Disruption: Positioning Nigeria for Resilience, Competitiveness, and Prosperity.”

The CCE who was represented by the Deputy Director, Basinal Administration, NUPRC, Ahmad Abdullahi, explained that the approvals were part of the Commission’s strategy to ensure that regulatory processes support production growth and the availability of energy in the country.

The CCE announced,  "Year to date, about 39 FDPs have been approved. About 145 new well-drilling approvals granted. Year to date, about 595 well reentry approvals were granted. That goes to tell that as a commission, we have improved our approval time level, which again reduce costs that is being wasted or for projects to continue to wait for approval.

“From the regulator’s perspective, to ensure that our energy security is not threatened, we must ensure that we approve Field Development Plans and new well-drilling applications to meet our production targets and guarantee energy availability."

The CCE noted that the rising number of approvals reflects improvements in the Commission’s approval processes, which have helped reduce waiting periods and the costs operators incur while projects remain on hold.

The NUPRC boss also disclosed that Nigeria’s total rig count now stands at 100 out of which 46 are currently active.

#EnergyReforms #NUPRC #NAPE2026

[NLNG @officialnlng]

NLNG and NCDMB have launched a US$9 million Professorial Chair Endowment Programme across six Nigerian universities, with US$1.5 million per institution to build specialised research chairs focused on the oil and gas industry’s most pressing challenges.

Beneficiary universities:

University of Ibadan
Rivers State University
Modibbo Adama University, Yola
Aliko Dangote University of Science and Technology, Kano
University of Nigeria, Nsukka
University of Abuja (Yakubu Gowon University)

The focus areas include gas processing, digital engineering, energy transition, emissions management, green energy and satellite intelligence for resilient gas infrastructure.

The goal is move from research for publication to research for application, building home-grown solutions, stronger institutions and the next generation of Nigerian researchers and industry professionals.

The MD/CEO, Adeleye Falade, noted, sustained research is essential to the future of the energy industry, and this is why government, industry and academia must work as one.

#NigerianContent #NLNG #NCDMB #ProfessorialChairs #Research #Innovation #EnergyTransition #NigeriaLNG #NCRD

[NLNG @officialnlng]

We are LIVE!

NLNG, in partnership with NCDMB, is holding the Kickoff Ceremony of the Nigerian Content Research & Development (R&D) Professorial Chairs Endowment Programme, a strategic investment in research capacity, academic excellence and industry-relevant innovation for national development.

Join the livestream on YouTube now: https://t.co/5r1D7FvlkF

#NLNG #NigerianContent #ProfessorialChairs #ResearchAndDevelopment #NCDMB

[NLNG @officialnlng]

A proud moment for the NLNG family! Our MD/CEO, Engr. Adeleye Falade, has received an honorary Doctor of Science (Honoris Causa) from Bowen University, a well-deserved recognition of his visionary leadership and commitment to excellence.

#NLNG #BowenUniversity #HonorisCausa #DoctorOfScience #AdeleyeFalade

[PortHarcourt Sailor @PHSailor1]

While I was in drydock in Singapore, I saw this massive FPSO that was still under construction. They’d about one thousand persons working on it and it has been under construction for about five years.

This is the biggest I’ve seen so far.

[Susie Wiles @SusieWiles47]

Today is my last day as White House Chief of Staff.  

Serving President Trump in the White House has been the honor of a lifetime. I’m so proud to have been a part of what we’ve accomplished together from securing our border and cutting taxes to strengthening our economy and putting America First.

More than anything, I’m grateful for the extraordinary people I’ve had the privilege of working alongside. While my role may be changing, my commitment to the President and the mission never will.

[Javier Blas @JavierBlas]

If you aren’t already, give a follow to my new colleague @shariqindubai, who has just joined the Bloomberg News oil and gas team in the Middle East, based in Dubai.

[OPEC @OPECSecretariat]

Normally, the combined cost of freight and insurance represents around 3% of the total cost of crude or petroleum products.

By the end of January 2026, the total share of freight and insurance for very large crude carriers (VLCCs) from the Middle East to East Asia was around 5% of the total cost.
By the end of October 2026, however, this share averaged 30% of the total cost.

These exceptionally elevated costs are, in turn, transmitted across the entire value chain. They increase and prolong the cost burden on producing and consuming countries and place additional inflationary pressures on the global economy.

Read more in the new brochure ➡️ https://t.co/gl6OT4UWQk

[Alessandro Bazzoni @Alessandro7596]

🇳🇬 Nigeria’s NNPC lifted oil and gas production to 3.04 million boepd in September, up from 3.01 million in August, following the restart of some oilfields. However, operational disruptions, pipeline leaks and infrastructure constraints continue to limit output. #Nigeria

[Javier Blas @JavierBlas]

BP hires Emma Lewis, a top Shell executive (and before that, ExxonMobil) to run its downstream business.

[Arthur Santos, PhD @ArthurTetraSoft]

The Reuters report:
https://t.co/sCHPRoixbf

[FT Energy @ftenergy]

Qatar set to become world’s biggest buyer of US LNG https://t.co/nXbBCqwotw

[Arthur Santos, PhD @ArthurTetraSoft]

Field-by-field breakdown here:
https://t.co/yvYDC5AH1T

[Bashir Bayo Ojulari - BBO @BBOjulari]

Inside yesterday's conversation with John Defterios at ADIPEC: how Nigeria is competing for energy capital.

Beyond the headline numbers, we spoke about the "how":

•✓ The Petroleum Industry Act, a stronger investment climate and closer collaboration with our partners.
•✓ A baseline assessment of our assets and infrastructure, giving us a full view of our strengths and where we must improve.
•✓ A focus on the basics: maintaining infrastructure, protecting base production and executing the projects that will take output higher.
•✓ New relationships, including ADNOC and Chinese investors, and global service companies expanding capacity in Nigeria.

Watch the conversation, shared by ADNOC: https://t.co/XymmW17eBj
🇳🇬🌍

https://t.co/HFOpX6Zbuf_YouTube_Media_xhY6dB0zxCk_Bayo-Bashir-Ojulari-NNPC-ADIPEC-2026_001_2160p

[NUPRC @NUPRCofficial]

Nigeria's upstream story took the global stage in Abu Dhabi this week.

Speaking live on Bloomberg Horizons Middle East & Africa at ADIPEC 2026, the Commission Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, shared what the Nigeria 2026 Licensing Round brings to the market: 40 blocks across onshore, shallow water and deep offshore terrains, ahead of the Round's official launch on 20 November.

She also spoke about the strong interest investors are showing in Nigeria's upstream sector, and the progress from our recent rounds, with earlier awardees now moving towards development.

The opportunity is open. Explore Nigeria, Energise the World.

Learn more: https://t.co/EfXNjoHFtr
Enquiries: [email protected]

#NUPRC #2026LicensingRound #ExploreNigeria #EnergiseTheWorld #ADIPEC2026

[ADIPEC @ADIPECOfficial]

Global energy leadership, shared ambition and meaningful connections marked the start of ADIPEC.

The Opening Ceremony brought together leaders and industry representatives from across the global energy community, creating opportunities for engagement and setting the tone for four days of collaboration, innovation and strategic dialogue.

Be part of the four days of ADIPEC and connect with the global energy community driving industry progress.

Register as a visitor: https://t.co/sSi8JiVHTf

#ADIPEC #ADNOC #GlobalEnergy #Leadership #Innovation #EnergyTransformation