NUPRC Commences Third Round of Regulations, Moves to Ensure Transparency in Oil Measurement Emmanuel Addeh in Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday began the stakeholders’ consultation on its third
The Nigerian Upstream Petroleum Regulatory Commission yesterday began the stakeholders’ consultation on its third round of regulations under the Petroleum Industry Act , with five new introductions essentially meant to ensure more transparency in the sector.
Speaking at the event in Abuja, the NUPRC Chief Executive, Mr. Gbenga Komolafe, stated that the stakeholders’ meeting was part of the commission’s commitment to creating an enabling environment for growth and investments in the upstream oil and gas industry in Nigeria. Furthermore, he listed the Unitisation Regulations, Acreage Management Regulations, Frontier Exploration Fund Administration Regulations, Upstream Environmental Remediation Fund Regulations, Upstream Petroleum Safety Regulations and Upstream Petroleum Environmental Regulations as other regulations where stakeholders’ feedback had already been obtained.
“Despite this however, the process is not complete until the stakeholders’ critical inputs are obtained. discussed, and incorporated, where necessary, in the regulations,” he said.
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