The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA on Wednesday held consultation with critical stakeholders in Abuja, the nation’s capital on its proposed seven new regulations for the midstream and downstream sectors of the Petroleum industry.
The seven regulations to be considered include, the Midstream and Downstream Petroleum Anti-competition and Customer Protection Regulations 2023; Petroleum Code of Conduct Regulations, 2023; Petroleum Data Depository Regulations, 2023.
Others are Petroleum Disposal of Confiscated Materials and Equipment Regulations 2023; Petroleum Registration and Publication of Licenses, Permits and Authorisations Regulations, 2023; Petroleum Separation of Licensed Activities and Surrender of License or Permit Regulations, 2023 as well as Petroleum Third-Party Access and Open Access Regulations, 2023.
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According to the NMDPRA Secretary and Legal Adviser, Dr. Joseph Toloruse, the new regulations are in line with the provisions of the Petroleum Industry Act, PIA. He explained that the input of the stakeholders will help enhance operations of the Midstream and Downstream Sectors of the Petroleum industry.
He says the proposed Midstream and Downstream Regulations by the NMDPRA will provide clarity for the operators and attract investments.
(Editor: Terverr Tyav)
