FG Introduces 'Drill or Drop' Policy to Boost Oil Production in Nigeria

FG introduces 'drill or drop' policy to boost oil production in Nigeria

The NUPRC introduces the "drill or drop" policy to ensure oil producers either begin production or relinquish their licenses, aiming to boost revenue.

NUPRC to Enforce ‘Drill or Drop’ Policy as Nigeria Ramps Up Oil Sector Reform - TV360 Nigeria

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to fully implement its long-anticipated ‘drill or drop’ policy, a move aimed at breathing new life into the country’s underperforming oil sector. NUPRC Chief Executive, Gbenga Komolafe, made this known while receiving a delegation from the Independent Petroleum Producers Group (IPPG) at the Commission’s headquarters in Abuja. Komolafe stated that under the new poli…

FG to revoke dormant oil licences with new policy - Lagos Television

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to enforce its ‘drill or drop’ policy, urging oil producers to either commence production within a set timeframe or forfeit their licenses. NUPRC Chief Executive, Gbenga Komolafe, revealed this during a recent meeting with a delegation from the Independent Petroleum Producers Group at the commission’s headquarters in Abuja. In a…

Nigeria to enforce ‘drill or drop’ policy to revive oil sector

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reaffirmed plans to implement the “drill or drop” policy as part of efforts to optimise Nigeria’s oil and gas resources. NUPRC Chief Executive, Gbenga Komolafe, disclosed the development during a recent meeting with representatives of the Independent Petroleum Producers Group (IPPG) at the commission’s headquarters in Abuja. […] The post Nigeria to enforce ‘drill or drop’ policy t…

FG to Withdraw Oil Licenses from Non-Active Operators - Economic Confidential

FG to Withdraw Oil Licenses from Non-Active Operators   The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has told oil producers that it is set to implement the ‘drill or drop’ policy. The Chief Executive of the NUPRC, Gbenga Komolafe, disclosed this when he received a delegation from the Independent Petroleum Producers Group at the commission’s […] The post FG to Withdraw Oil Licenses from Non-Active Operators appeared first on Econ…