Nigeria’s upstream regulator is launching an investigation into the country’s production woes, saying there is more than just oil theft to blame.
Nigerian Upstream Petroleum Regulatory Commission (NUPRC)
Nigeria’s oil production has slipped below the 1 million barrel per day mark, according to new data from the upstream regulator. The decline in August has seen Nigeria fall to fourth largest producer in Africa, from first.
Nigerian President Muhammadu Buhari has reversed his support for Seplat Energy to acquire ExxonMobil’s local joint venture, in apparent recognition of the regulator’s objections.
Nigeria has long had issues with safety, not least in keeping workers safe from militants. The government has shown little sign of tackling the problem among legal operations, let alone the safety challenges of widespread illicit bunkering and refining.
Seplat Energy has appointed Basil Omiyi to takeover as non-executive chairman, while questions are asked once more over the company’s deal for ExxonMobil’s local assets.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched an investigation into the Trinity Spirit disaster.
Nigerian President Muhammadu Buhari has appointed a board to oversee Nigerian National Petroleum Corp. (NNPC) Ltd.