Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Nigeria cuts 2025 oil bid bonuses to boost investment in 50 new blocks.

flag Nigeria has lowered the signature bonus for its 2025 petroleum licensing round to $3 million to $7 million to reduce entry barriers and attract investment. flag The round offers 50 oil blocks across onshore, shallow water, and deep offshore areas, open to local and foreign companies without prior registration. flag Bids must meet financial thresholds—$100 million annual turnover for deep offshore, $40 million for onshore and shallow water—and demonstrate technical and financial capacity. flag The process runs from November 17, 2025, to July 17, 2026, with initial licenses lasting three years and possible extensions. flag The NUPRC confirmed $185 million and N14.9 billion have been approved for NNPC, with disbursement pending certified work programs.

9 Articles

Further Reading