NMDPRA set to Release Regulations on Midstream, Downstream

The Nigeria Midstream and Downstream Petroleum Regulatory Authority


By: | on | 1203 views
Topic: News


NMDPRA set to Release Regulations on Midstream, Downstream
Engr. Farouk Ahmed


 

The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says its drafting & regulations on midstream and downstream operations to bring clarity, improve business processes and ease of doing business in the sector.

 

The Authority Chief Executive (ACE), NMDPRA, Engr. Farouk Ahmed made this known in a meeting with members of the Independent. Petroleum Producers Group (IPPC) in Abuja,

 

Ahmed said the regulations are as follows: Gas Pricing, Environmental Management Plan, Environmental Remediation Fund, Decommissioning and Abandonment, Gas Infrastructure Fund and Natural Gas Pipeline Tariff.

 

The ACE also informed the Group that a Working Team chaired by Mr Ogbugo K. Ukoha, Executive

 

Director, Distribution Systems, Storage & Retailing Infrastructure (DSSRI) was set up to review the

 

draft regulations, engage and consult stakeholders for smooth implementation when released.

 

Ahmed further stated that "One of our key concerns is boosting local refining. Dangote and BUA refineries are coming on board; however, we want to see more companies investing in refineries so we can stop the importation of refined petroleum products, save our foreign earnings, create jobs and add value to the economy"

 

The NMDPRA Boss noted and commended the gradual growth of indigenous players in local exploration and production of petroleum products.

 

Earlier, the IPPC Chairman, Mr Abdulrazaq Isa said the IPPC was an association of 25 indigenous Exploration and Production (E&P) companies with the vision to promote the continued development of the Nigerian Petroleum industry for the benefit of industry stakeholders and the nation.

 

Isa noted that timely communication with industry players was important at this time that the

 

Authority is going through a transition period.

 

IPPC called on the NMDPRA to, as a matter of urgency, enact regulations on tariffs, domestic gas and clear license issuance modalities amongst others. In conclusion, the NMDPRA Boss pledged the Authority's commitment in making the business.

 

climate in the midstream and downstream conducive for local and foreign investment to thrive.



Sponsored Ad
Copyright: Fresh Angle International (www.freshangleng.com)




Sponsored
Olivia Travels
Sponsored Ads