The Federal Government (FG), at the weekend, said its drafting 6 regulations on midstream and downstream operations to bring clarity, improve business processes and ease of doing business in the oil and gas sector.
The Chief Executive, Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, made the disclosure in a meeting with members of the Independent Petroleum Producers Group (IPPG) in Abuja.
According to him, the regulations are; Gas Pricing, Environmental Management Plan, Environmental Remediation Fund, Decommissioning and Abandonment, Gas Infrastructure Fund and Natural Gas Pipeline Tariff.
He explained 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.’’
However, he commended the gradual growth of indigenous players in local exploration and production of petroleum products.
Earlier, the IPPG Chairman, Mr Abdulrazaq Isa, said the IPPG 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 a time where the Authority is going through a transition period.
IPPG called on the NMDPRA to, as a matter of urgency, enact regulations on tariffs, domestic gas and clear license issuance modalities amongst others.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
How Workplace Sexual Harassment Forces Many Out Of Their Dream Jobs
Despite several laws prohibiting sexual harassment in Nigeria, many victims are forced to quit their dream jobs while others suffer depression as a result of unsolicited sexual advances from colleagues. FAITH ADEOYE reports.
If you want to keep your job and excel in your career, you need to do as I say,” Janet Abegunde’s boss said to her one fateful day. Miss Abegunde, a 24-year-old accountant who had just gotten her first job in one of the new generation banks, said she fell into depression after her boss sexually harassed her.FG to release six regulations on midstream, downstream operations
FG to release six regulations on midstream, downstream operations
Afropop singer Guchi has officially unveiled her forthcoming EP titled “No Skips, Just Feelings,” which…
“You know it is only the person who stands in the arena and is facing…
60 people working in the abattoir sector, comprising 40 waste managers and 20 regulators drawn…
“At a time when all hands should be on deck to reposition the APC for..."
The Nigeria Customs Service (NCS) under its Corporate Social Responsibility (CSR) Initiative, “Customs Cares” has…
It is crucial to acknowledge that the progress still needs a multisectoral approach to reach…
This website uses cookies.