June 22, 2024

PIA: NMDPRA releases consultation notice to stakeholders on development of regulations phase 2

 

Oredola Adeola

The Nigerian Midstream and Downstream Petroleum Regulatory Authority(NMDPRA) has issued consultation notice to stakeholders in the midstream and downstream sector on the development of regulations (Phase 2) in compliance with section 216 of the Petroleum Industry Act 2021.

The proposed regulations are: gas pricing, midstream and downstream decommissioning and abandonment, environmental regulations for midstream and downstream operations, environmental remediation fund, midstream and downstream gas Infrastructure fund and natural gas pipeline tariff.

Engr. Farouk Ahmed, Authority Chief Executive, made this known in a notice signed by him and released on Monday.

According to him, the move was in compliance with Section 216 {1} of the Petroleum Industry Act 2021 in consultation with stakeholders prior to finalizing any Regulations.

The notice read, “The Nigerian Midstream and Downstream Petroleum Regulatory Authority (Authority) hereby invites licensees, permit holders and other Stakeholders in the Midstream and Downstream Petroleum Sector to make submissions within twenty-one {21} days from the date of this publication in respect of the proposed Regulations.

“The Regulation to which the Stakeholders’ consultation relates includes Petroleum Pipeline Regulations; Midstream and Downstream Petroleum Operations Regulations ; Assignment and Transfer of Licence or Permit Regulations

NMDPRA however charged stakeholders to visit the Authority’s website to review proposed regulations, insisting that all submissions must be made using the format accessible by the Authority.

Energyday gathered that the Phase(1) held in a meeting with stakeholders in June. The session was focused on issues relating to the six regulations on midstream and downstream operations to bring clarity, improve business processes and ease of doing business in the sector .

The phase(1) was aimed at boosting local refining of crude oil and encouraging indigenous players’ participation in local exploration and production of petroleum products.