NUPRC: 300 Firms Jostling for 50 Oil Blocks in Ongoing Licensing Round Says it signals investor confidence in Nigeria’s energy sector Local refineries key to hitting 2m bpd oil output, states PETAN
Peter Uzoho in Houston, Texas The Nigerian Upstream Petroleum
Regulatory Commission (NUPRC) yesterday said that almost 300 applicants made up of local and
foreign companies were competing for just 50 oil blocks in the ongoing 2025 licensing round, describing it
as a testament to a renewed investor confidence in the upstream sector. Chief Executive Officer of the
Commission, Mrs Oritsemeyiwa Eyesan, stated this while addressing participants at the ongoing Offshore
Technology Conference (OTC) 2026 Continued on page 9
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