The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that the 2026 Oil Licensing Round will kick off in the third quarter, following President Bola Tinubu’s approval under the Petroleum Industry Act (PIA). Commission Chief Executive Mrs. Oritsemeyiwa Eyesan made the announcement during a visit by Meren Energy (formerly Africa Oil) to NUPRC headquarters in Abuja, as disclosed by Eniola Akinkuotu, the commission’s head of media and corporate communications.
Eyesan expressed satisfaction with the ongoing 2025 Licensing Round, noting that commercial bids are scheduled for July. She emphasized that heightened participation in the 2025 round reflects Nigeria’s positive trajectory under Tinubu’s leadership, with rising investments and production making the oil and gas sector increasingly attractive. “We are fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round. We are finalizing the launch, which will happen by the third quarter at the latest,” she stated. “This is the make-or-break point, and we want to ensure we get it right.”
Dr. Oliver Quinn, Group CEO of Meren Energy, highlighted that current reforms have spurred the company to boost investments in Nigeria, particularly in asset divestments and licensing rounds. He identified Africa as the company’s top investment priority, with Nigeria leading the pack. Quinn noted that Meren Energy has operated in world-class fields like Agbami, Akpo, and Egina, investing approximately $11 billion in capital over 20 years and contributing $4 billion in taxes and royalties. “Nigeria remains the core of our business due to the quality of these assets,” he said, adding that the company is pushing partners to deepen investments and increase production.
Quinn also revealed that Meren Energy was the first firm to supply crude oil to the Dangote refinery and will continue fulfilling its Domestic Crude Supply Obligation (DCSO) as long as prices remain favorable.
Meanwhile, normal operations have resumed at the NUPRC after a one-day warning strike by workers from the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) was called off. The commission stated that the industrial action, which lasted about 12 hours on June 1, 2026, was resolved through successful negotiations between management and the two in-house unions. While administrative functions were temporarily affected, regulatory oversight across oil and gas facilities nationwide continued uninterrupted. The NUPRC urged the public to disregard false reports claiming the strike disrupted crude oil production, and it refuted misleading claims that the dispute centered on foreign training opportunities. The commission reaffirmed its commitment to improving worker conditions, welfare, and capacity development.
