The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it is drafting six regulations on midstream and downstream operations to bring clarity, improve business processes and ease of doing business in the sector.
\nThe Authority Chief Executive (ACE), NMDPRA, Mr Farouk Ahmed made this known during a meeting with members of the Independent Petroleum Producers Group (IPPG) in Abuja.
\nAhmed, in a statement on Sunday, listed the regulations as Gas Pricing, Environmental Management Plan, Environmental Remediation Fund, Decommissioning and Abandonment, Gas Infrastructure Fund and Natural Gas Pipeline Tariff.
\nThe ACE also informed the group that a Working Team chaired by Mr Ogbugo Ukoha, Executive Director, Distribution Systems, Storage and Retailing Infrastructure (DSSRI) , NMDPRA was set up to review the draft regulations.
\nAccording to him, the group will engage and consult stakeholders for smooth implementation when released.
\n\u201cOne of our key concerns is boosting local refining.
\n\u201cDangote 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,\u2019\u2019 he said.
\nHe pledged the authority\u2019s commitment to making the business climate in the midstream and downstream conducive for local and foreign investment to thrive.
\nThe NMDPRA Boss, however, commended the gradual growth of indigenous players in local exploration and production of petroleum products.
\nEarlier, the IPPG Chairman, Mr Abdulrazaq Isa said the IPPG was an association of 25 indigenous Exploration and Production (E&P) companies.
\nHe said the vision of the group was to promote the continued development of the Nigerian Petroleum Industry for the benefit of industry stakeholders and the nation.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it is drafting six regulations on midstream and downstream operations to bring clarity, improve business processes and ease of doing business in the sector. The Authority Chief Executive (ACE), NMDPRA, Mr Farouk Ahmed made this known during a meeting with members of the Independent Petroleum […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[],"class_list":["post-295876","post","type-post","status-publish","format-standard","hentry","category-special-edition"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/295876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=295876"}],"version-history":[{"count":1,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/295876\/revisions"}],"predecessor-version":[{"id":295888,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/295876\/revisions\/295888"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=295876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=295876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=295876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}