NIGERIA’S PETROLEUM RESERVES: 37BN BARRELS OF OIL, 215TCF OF GAS –EYESAN
GREATRIBUNETVNEWS–NIGERIA’S petroleum reserves have been officially declared, showcasing 37.01 billion barrels of oil and condensate, and 215.19 trillion cubic feet of gas as of January 1, 2026.
Key Highlights:
– _”The Commission is committed to improving upstream sector performance, enhancing the growth of oil and gas reserves, and ensuring stable production via operationalisation of the Petroleum Industry Act, 2021 (PIA).”_ – Mrs. Oritsemeyiwa Eyesan, Commission Chief Executive
– Official Reserves:
– Total Oil and Condensate reserves: 37.01 Billion Barrels
– Total Gas reserves: 215.19 Trillion Cubic Feet
– _”I, Mrs. Oritsemeyiwa Eyesan, Commission Chief Executive, hereby declare the Total Oil and Condensate reserves of 37.01 Billion Barrels and Total Gas reserves of 215.19 Trillion Cubic Feet as the official National Petroleum Reserves Position as of 1st January 2026.”_
– Strategic Focus: Improving upstream sector performance, enhancing reserves growth, and ensuring stable production
The declaration underscores Nigeria’s commitment to transparency and growth in the oil and gas sector.
THE FULL TEXT BY MRS ORITSEMEYIWA EYESAN, COMMISSION CHIEF Executive
NATIONAL ANNUAL PETROLEUM RESERVES POSITION AS AT 1ST JANUARY 2026
The Commission, in keeping with its mandate, is committed to improving upstream sector performance, enhancing the growth of oil and gas reserves, and ensuring stable production for shared prosperity via operationalisation of the Petroleum Industry Act, 2021 (PIA), and implementation of the strategic pillars of the Commission.Consequently, and in furtherance of the provisions of Chapter 1, Part III, Section 7 (g), (i), (j), (k), (m), (q), (r) and other powers enabling me in this
respect, I, Mrs. Oritsemeyiwa Eyesan, Commission Chief Executive, hereby declare the Total Oil and Condensate reserves of 37.01 Billion Barrels and Total Gas reserves of 215.19 Trillion Cubic Feet as the official National Petroleum Reserves Position as of 1st January 2026
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