Introduction
The Nigerian Upstream Petroleum Regulatory Commission (the “Commission”) has issued the Petroleum Licensing Round (Amendment) Regulations, 2026 (the “Amendment Regulations”), which came into force on 9 March 2026.
The instrument does not repeal or replace the Petroleum Licensing Round Regulations, 2022 (the”Principal Regulations”). It is a short, targeted amendment of three regulations of the Principal Regulations: Regulations 10, 12 and 213. Even so, the changes touch the core mechanics of a licensing round: consortium qualification requirements, bid submission requirements, number of reserve bidders to be designated, and the valuation of work commitment guarantees.
