ADVERTISEMENT
  • Africa
  • World
  • Our Shows
    • Entrepreneurship
    • Destination Business
    • 101business TV Show
Business 360 News
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly
No Result
View All Result
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly
No Result
View All Result
Business 360 News
No Result
View All Result
Home Energy

NUPRC Clarifies Oil Block Status, Says No Abandonment of Assets

Victoria Emeto by Victoria Emeto
August 7, 2025
in Energy
0
NUPRC Mandates Unique ID and Clearance for All Crude Oil Exports Under New Regulation

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has refuted claims that hundreds of oil blocks across the country have been abandoned, insisting that the status of all 243 oil blocks has been duly accounted for and transparently documented.

In a statement released on Wednesday, the commission described a recent newspaper report suggesting the existence of 220 open oil blocks as “misleading,” affirming that no oil assets have been left idle or neglected.

NUPRC clarified that the publication, which quoted its own data, misrepresented the figures by failing to consider the broader context of Nigeria’s upstream asset management. The commission reiterated that the release of the concession status aligns with the transparency objectives of the Petroleum Industry Act (PIA) 2021.

According to the disputed report, the deep offshore terrain allegedly has the highest number of unlicensed blocks at 59, followed by the Benue Trough with 41, the Chad Basin with 40, Sokoto Basin with 28, and the Bida Basin with 16.

Additionally, it claimed the offshore Niger Delta has seven open blocks, while Anambra Basin hosts 13, and eight each remain unlicensed in the Benin Basin and onshore Niger Delta.

However, the NUPRC maintained that these figures were taken out of context and stressed that it remains committed to efficient resource management and the responsible licensing of Nigeria’s hydrocarbon assets.

Tags: #NigeriaEnergy#NUPRC#OilBlocks#PetroleumIndustryAct
Previous Post

FG Backs MSME Clinics to Boost Jobs and Economic Growth — VP Shettima

Next Post

Tinubu Orders Free Healthcare for Low-Income CPS Retirees, Pension Reforms

Victoria Emeto

Victoria Emeto

Next Post
Tinubu Orders Free Healthcare for Low-Income CPS Retirees, Pension Reforms

Tinubu Orders Free Healthcare for Low-Income CPS Retirees, Pension Reforms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
FMDQ Exchange Admits Flour Mills of Nigeria’s ₦30.00bn Commercial Paper Notes

FMDQ Admits TSL SPV PLC ₦12.00 billion Series 1 Guaranteed Fixed Rate Infrastructure Bond to its Platform

March 11, 2021
NIBSS Downtime Causes Delays in Electronic Transactions, Fintechs Alert Customers

NIBSS Downtime Causes Delays in Electronic Transactions, Fintechs Alert Customers

June 7, 2024
Asian Stocks Hit Record High as US Tech Rebound Lifts Market Sentiment

Asian Stocks Hit Record High as US Tech Rebound Lifts Market Sentiment

February 10, 2026
NCAC inaugurates Creative Industry Sub-Committees

NCAC inaugurates Creative Industry Sub-Committees

September 20, 2020
‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

25
Goldlink’s restructures board

Goldlink’s restructures board

10
Airtel Africa Plc gets admitted to the NSE Main Board

Airtel Africa Plc gets admitted to the NSE Main Board

6
Stallion Tank Farm resumes operations

Stallion Tank Farm resumes operations

3
Lagos Urged to Publish Harmonised Tax Code to Cut Manufacturers’ Compliance Costs

Lagos Urged to Publish Harmonised Tax Code to Cut Manufacturers’ Compliance Costs

August 28, 2026
CBN Records 199% Oversubscription at Treasury Bills Auction as Investors Chase High Yields

Nigeria’s Money Market Liquidity Rises to N7.40tn as Borrowing Costs Ease

August 28, 2026
FCMB Takes Possession of Bankers Warehouse, Vandt Investment Assets Over N4.4bn Debt

FCMB Supports Summit for 1,000 NYSC Members on Careers, Finance and Leadership

August 28, 2026
TCN Demands Repayment of N457bn Electricity Debt from FG to Unlock Transmission Expansion

TCN Secures $1.4bn to Expand National Grid, Raises Capacity to 8,700MW

August 28, 2026
Business 360 News

Business 360 News is a Business and Financial News Platform with an SMEs drive. Published by 360 Network Limited, and created with the aim of disseminating unbiased business stories to readers within and outside Nigeria, providing in-depth analysis of our stories from a critical perspective against the backdrop of realities, actualities, objectivity and balance.

Follow Us

Browse by Category

  • Africa
  • Agribusiness
  • Agriculture
  • AI
  • Art
  • Arts
  • Aviation
  • Banking
  • Blockchain
  • Business 360 Weekly
  • Business news
  • Business Travels
  • Capital Market
  • CHINA
  • Corporate
  • Cryptocurrency
  • Destination Business
  • East Africa
  • Economy
  • Education
  • Electric Vehicles
  • Electricty
  • Energy
  • Entertainment
  • Entertainment
  • Entrepreneurship
  • EV
  • Fashion
  • Fashion
  • Feature
  • Finance
  • Gas
  • Global Economy
  • Health
  • Hospitality
  • ICT
  • Insurance
  • IoT
  • Japan
  • Lifestyle
  • Luxury
  • Maritime
  • Meetings
  • Mortgage
  • News
  • NGOs
  • Oil
  • Petrol
  • Political Economy
  • politics
  • Real Estate
  • Real Estate
  • SMEs
  • Society
  • Solar Energy
  • South Africa
  • Sports
  • Start-Ups
  • Stocks
  • Success Stories
  • Tax
  • Tech
  • Tourism
  • Transportation
  • UK
  • Uncategorized
  • US
  • West Africa
  • World

Recent News

Lagos Urged to Publish Harmonised Tax Code to Cut Manufacturers’ Compliance Costs

Lagos Urged to Publish Harmonised Tax Code to Cut Manufacturers’ Compliance Costs

August 28, 2026
CBN Records 199% Oversubscription at Treasury Bills Auction as Investors Chase High Yields

Nigeria’s Money Market Liquidity Rises to N7.40tn as Borrowing Costs Ease

August 28, 2026
  • Africa
  • World
  • Our Shows

© Business 360 News - Business, Finance And SMEs News | Design by Manifest!

No Result
View All Result
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly

© Business 360 News - Business, Finance And SMEs News | Design by Manifest!