Petroleum regulator to amend crude supply regulation for Dangote, others

• The Nigerian Upstream Petroleum Regulatory Commission intends to alter the Domestic Crude Supply Obligations Regulations 2023
• The NUPRC claims that an examination of the National Data Repository Regulations will also take place
• In a notification, the commission expressed its desire to seek input from interested parties through consultation

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

The Domestic Crude Supply Obligations Regulations 2023 are slated to be amended by the Nigerian Upstream Petroleum Regulatory Commission.

The NUPRC claims that an examination of the National Data Repository Regulations will also take place. Photo Credit: FG, Anton Petrus
Source: Getty Images

This was said by the commission in a notice that was signed on Thursday by Gbenga Komolafe, the NUPRC's chief executive.

The National Data Repository Regulations will reportedly also be examined, according to the NUPRC in a Punch report.

The commission stated in the notice that it wished to consult with interested parties to get their opinions.

“In line with Section 216 (1) of the PIA 2021, which requires the commission to consult with stakeholders before finalising regulations or amendments to regulations, the Nigerian Upstream Petroleum Regulatory Commission hereby invites inputs from lessees, licensees, permit holders, host communities and other stakeholders of the Nigerian Upstream Petroleum sector, within 21 days from the date of this publication.“The matters to which this stakeholder’s inputs and consultations relate are National Data Repository Regulations; Amendment to the Production Curtailment and Domestic Crude Oil Supply Obligations Regulations 2023,” the notice read partly.

It enjoined stakeholders to download and review the proposed regulations at the NUPRC website.

“Accordingly, submissions of inputs to the regulations are requested as part of the process of stakeholder’s consultation before finalisation of the regulations, to give meaning to the intent of the PIA 2021,” the NUPRC announced.

It directed that all submissions must be made using the format accessible through a link on its site and must be received no later than 21 days from the date of the publication of this notice.

This is coming amid alleged noncompliance of crude producers with the current DCSO regulations.

FG gives order to oil companies

Legit.ng reported that the Nigerian Upstream Petroleum Regulatory Commission stated that it will mandate foreign oil corporations to provide crude oil to the Dangote oil refinery.

Olaide Shonola, the NUPRC spokesperson, stated that the commission was stepping in to guarantee that domestic crude sales to Dangote and other refineries would continue.

Shonola made this statement in response to the Dangote Group chairman's assertion that foreign oil corporations were unwilling to supply the refinery with crude.

Source: Legit.ng