NMDPRA to announce regulations for downstream oil sector – Nexus News
Efforts are on its way to ensure speedy issuance of midstream and downstream petroleum regulations, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) disclosed.
This was revealed in Abuja by the Executive Director, Distribution Systems, Storage and Retailing Infrastructure, NMDPRA, Ogbugo Ukoha, at the end of the stakeholders’ consultation forum on regulations.
Stating the processes that lie ahead before the regulations would be deployed, Ukoha said that the Federal Ministry of Justice would gazette the regulations after they had been published.
The 10 regulations considered by the stakeholders were: Gas pricing, Domestic demand and Delivery regulations; Natural gas Pipeline Tariff regulations and Midstream and Downstream Decommissioning and abandonment Regulations.
The regulations included Environmental Regulations for Midstream And Downstream Petroleum Operations in Nigeria; Midstream and Downstream Environmental Remediation Fund Regulations and Midstream and Downstream Gas Infrastructure Fund Regulations.
Others are Petroleum (Transportation And Shipment) Regulations; Assignment and Transfer of Licenses and Permits Regulations; Petroleum Pipeline Regulations and Midstream and Downstream Petroleum Operations Regulations.
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Ukoha stated that the first traditional requirement of the authority, as a regulator, was to discuss with stakeholders to propose draft regulations to major stakeholders and consult and review their feedback before revealing the regulations.
According to him, the Petroleum Industry Act 2021 entails the process and requirements, noting that the NMDPRA has to publish the regulations and after 21 days invite the stakeholders to listen and make considerations.
He added: “So, we released 10 draft regulations across the board and two more draft regulations but the consultation we were just concluding was for the 10 regulations.
“We got rich and intense feedback from stakeholders, what is left for us to do now is to go back and reflect on it and utilize the good part ultimately for the benefit of Nigerians and growth of the industry. The reviewed regulations will then be forwarded to the ministry of justice after which it will be gazetted.”
Ukoha noted that the regulations, which were published online, got hundreds of rich written replies from stakeholders, while the three syndicates group established at the forum made considerations and challenges clarified.
The Executive Director explained that the authority was mindful of the timeframe set by the PIA.
