The workshop provided data-driven insights into the sector's growth potential. Stakeholders emphasized the need for continuous industry engagement, collaboration, and public sensitization to aid public buy-in on new policies by the government.
The new regulations are: Midstream and Downstream Petroleum Operations Regulations, 2023, Assignment or Transfer of License and Permit Regulations, 2023; Petroleum Measurement Regulations, 2023;. Gas Pricing and Domestic Demand Regulations, 2023; Petroleum (Transport and Shipment) Regulations, 2023 as well as Natural Gas Pipelines Tariff Regulations, 2023.
The Major Oil Marketers Association of Nigeria, (MOMAN), has challenged operators in the Nigerian downstream sector on the automation of their services...
NAEC ,therefore, recommends that NNPCL should ensure a transparent subsidy system that will allow the supply figures and cost templates that provide basis for subsidy claims to be verifiable.
President Muhammadu Buhari had on Tuesday, signed the 2023 budget of N21.83 trillion into law after lawmakers increased the size by 6.4% and raised the oil price assumption.
Adeosun who was speaking at the quarterly webinar workshop organized for Energy Editors and correspondents, noted that as a country, Nigeria must begin the process of price deregulation to reduce this inefficient subsidy.
The MOMAN chairman noted that there is some energy nationalism going on, leading to some major refining countries hoarding petroleum products like diesel for local use as was the case with COVID-19 vaccines, adding that some developing countries are subsidizing the cost, leading to widespread outages in those countries.
MOMAN, as an Association, fears that the current supply framework cannot guarantee steady and consistent supplies to the country given the current state of Government finances and unpredictable international supply shortages.
Akinrinade said while the government had fixed N165 per litre as the pump price of Premium Motor Spirit (PMS), the current realities in the market showed that the minimum the product should be retailed at the stations should be N180.
The workshop provided data-driven insights into the sector's growth potential. Stakeholders emphasized the need for continuous industry engagement, collaboration, and public sensitization to aid public buy-in on new policies by the government.
According to NLNG’s Managing Director and Chief Executive Officer, Dr Philip Mshelbila, the Company had signed an MoU with UNEP in the last quarter of 2022, stating that the signing demonstrated the Company’s commitment to reduce methane emissions from its operations as part of its decarbonisation journey.
The new regulations are: Midstream and Downstream Petroleum Operations Regulations, 2023, Assignment or Transfer of License and Permit Regulations, 2023; Petroleum Measurement Regulations, 2023;. Gas Pricing and Domestic Demand Regulations, 2023; Petroleum (Transport and Shipment) Regulations, 2023 as well as Natural Gas Pipelines Tariff Regulations, 2023.
