The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that the 2026 Oil Licensing Round will commence by the third quarter of 2026, following approval from President Bola Tinubu in line with the Petroleum Industry Act.
NUPRC Chief Executive Oritsemeyiwa Eyesan disclosed the timeline during a visit from Meren Energy, formerly known as Africa Oil, to the commission’s headquarters in Abuja. Eyesan said she was satisfied with the conduct of the 2025 Licensing Round so far, noting that its commercial bid stage would take place in July, after which the 2026 round would launch. “We are also fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round,” she said. “This is the make-or-break point, and we want to make sure we make it.”
Eyesan added that heightened participation in the 2025 round reflected growing investor confidence, pointing to rising investment and an upswing in production as evidence that Nigeria’s oil and gas sector has become increasingly attractive under the current administration.
Meren Energy Group CEO Oliver Quinn said the current wave of reforms had inspired the company to increase its investments in Nigeria, citing renewed interest in asset divestments and licensing rounds. He noted that Nigeria remains Meren’s top African priority, with roughly $11 billion in capital deployed and about $4 billion paid in tax and royalties over 20 years across the Agbami, Akpo, and Egina fields. Quinn said Meren was the first company in Nigeria to sell crude oil to the Dangote refinery and would continue fulfilling its Domestic Crude Supply Obligation so long as pricing remains favourable.
The announcement came as normal operations resumed at the NUPRC following the suspension of a brief warning strike by workers under the Petroleum and Natural Gas Senior Staff Association of Nigeria and the Nigeria Union of Petroleum and Natural Gas Workers. The roughly 12-hour industrial action, called off after successful negotiations between management and the unions, affected only administrative functions, with regulatory oversight of oil and gas facilities continuing uninterrupted throughout. The commission urged the public to disregard reports suggesting the strike disrupted crude oil production or was linked to disputes over foreign training opportunities, describing such claims as inaccurate.
Source: thisdaylive.com