Nigerian govt lays down new rules to curb oil theft, improve domestic supply
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has laid down new regulations aimed at measuring how crude oil is to be measured in the country as part of effort to check oil theft.
The new guidelines will also check crude oil supply to the domestic market as well as advanced cargo declaration that would allow the government track crude oil export.
The Chief Executive Officer of NUPRC, Engr. Gbenga Komolafe, who spoke at the third phase stakeholders consultation forum on draft regulations held in Abuja on Monday, stated that for several years, there have been issues around standard measurement for crude oil produced in the country.
Read also:Nigerian Navy says NNPC lied, deceiving Nigerians about crude oil theft figures
He added that the new regulation crude oil measurement would state clearly how this is to be carried out.
He further disclosed that so far, 13 new regulations have been established under the Petroleum Industry Act, 2021, with six already gazzetted.
Also speaking at the forum, Executive Commissioner, Economic Regulation and Strategic Planning, Dr. Kelechi Ofoegbu, said the one thing the industry has suffered over time “has been lack of transparency and accountability. People say that our operations are masked in a haze because they don’t understand exactly what is going on.”
“One of the things we have set out to do as a commission is to infuse that transparency and line of sight for everybody as mandated by the PIA. These regulations are a way of operationalising the PIA.”
“The regulations we are bringing out today, in particular, the measurement regulation and advance cargo declaration regulation, are designed to improve the transparency profile of the upstream sector,” he added.
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