The Nigerian Midstream and Downstream Petroleum Regulatory Authority has begun stakeholders’ consultation on draft regulations on the measurement of petroleum products and safety in the industry with a call on stakeholders to make major contributions to the rule.
The Petroleum Measurement Regulations seek to regulate and ensure accurate measurement and allocation of petroleum, petroleum liquids, natural gas and their derivates.
The regulations will determine the basis for calculating revenue accruing to the government, licenses, contractors and other parties and also provide sanctions and penalties for failure to comply with these regulations.
Speaking at the opening of a three-day stakeholder’s forum in Abuja, the NMDPRA Chief Executive, Engr. Farouk Ahmed said the consultations were part of the requirement of the Petroleum Industry Act 2021.
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Engr. Ahmed who was represented at the forum by Mr. Ogbugo K. Ukoha, Executive Director, Distribution Systems, Storage and Retailing Infrastructure (DSSRI) said the essence of the forum was to take the inputs of the operators and other stakeholders before a final decision was taken by the Authority.
The agency had in May also unveiled the first set of regulations for the sector on Environmental Management Plan, Environmental Remediation Fund, Decommissioning and Abandonment, Gas Infrastructure Fund and Natural Gas Pipeline Tariff.
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