Echotitbits – Nigeria News

Tag: Crude Oil Production

  • NUPRC Opens Bidding for 50 New Oil Blocks to Boost Production

    NUPRC Opens Bidding for 50 New Oil Blocks to Boost Production

    Channels TV reports that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) opened the 2026 bidding round for 50 oil blocks as part of efforts to lift crude oil output and revenues.

    The commission says it has lowered entry barriers to attract local and international independent players and has pledged transparency under the Petroleum Industry Act (PIA).

    The Punch and Vanguard also highlighted the economic implications, including a focus on blocks with proven reserves and the investment rationale behind lowering barriers for capable operators.

    Echotitbits take: After years of output pressure from divestments and operational disruptions, this bid round will be a credibility test. The decisive variable is security—oil theft and pipeline sabotage still distort project economics. Expect strong interest from indigenous operators and smaller international independents if the fiscal and security signals hold.

    Source: The Punch – https://punchng.com/nuprc-opens-50-oil-blocks-for-bidding-bars-weak-firms/ 2026-01-30

    Photo Credit: The Punch

  • Nigerian Navy Heightens Maritime Surveillance to Combat Crude Oil Theft

    Nigerian Navy Heightens Maritime Surveillance to Combat Crude Oil Theft

    The Nigerian Navy has deployed high-speed interceptor boats and drone technology to the Niger Delta to intensify operations against illegal oil bunkering and pipeline vandalism that continue to drain foreign exchange earnings.

    The Chief of Naval Staff said the new assets will provide real-time surveillance for remote creeks and offshore assets, cutting response time and tightening control of maritime corridors.

    The Navy also announced a collaboration framework with private security firms and local communities to improve intelligence and disrupt the logistics chains that support illegal refining.

    Echotitbits take: Crude oil theft remains one of Nigeria’s biggest revenue leakages. Drone-led surveillance can change the game, but the real test is whether enforcement reaches the high-level ‘godfathers’ behind the theft—not only the foot soldiers in the creeks.
    Source: The Punch – https://punchng.com/navy-backs-fgs-2-5mbpd-oil-projection-by-2027/ 2026-01-27

    Photo Credit: The Punch

  • Strategic Plan Unveiled to Hits 1.8 Million Barrels Per Day Production Goal

    Strategic Plan Unveiled to Hits 1.8 Million Barrels Per Day Production Goal

    In an update published by BusinessDay, Nigeria’s ambition to reach a crude oil production target of 1.80 million barrels per day (bpd) in 2026 is reportedly contingent on fixing aging infrastructure and securing new export routes. While over $16 billion in investment commitments have been secured since 2023, experts warn that chronic pipeline theft and ‘infrastructure bottlenecks’ remain significant hurdles. The report highlights that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) recorded an average production of 1.66 million bpd toward the end of 2025. To bridge the gap, the government is looking to activate newly approved export infrastructure and leverage improved security measures in the Niger Delta. Further validation comes from Premium Times and The Nation. Premium Times reported that the ‘NNPCL seeks pipeline communities’ support’ to meet the new budget targets, while The Nation quoted industry analysts saying, ‘securing evacuation routes’ is the primary challenge for the year.

    Echotitbits take: Reaching 1.8m bpd is the ‘holy grail’ for Nigeria’s 2026 fiscal stability. If the government can successfully secure the pipelines and integrate new investments, the resulting forex influx could stabilize the Naira. However, the reliance on mature fields means that brownfield optimizations must happen immediately.

    Source: Guardian – https://guardian.ng/energy/crude-oil-production-hits-1-8m-barrels-per-day-nuprc/ January 6 2026

    Photo Credit: Guardian