Author:The Nigerian Upstream Petroleum Regulatory Commission says five petroleum industry regulations have been gazetted.Gbenga Komolafe, chief executive officer of NUPRC, spoke on Monday in Abuja at the third phase of the authority’s consultation with stakeholders on draft regulations development.The engagement had in attendance the Oil Producers Trade Section , Independent Petroleum Producers Association , international oil companies and indigenous operators, among others.
upstream environmental remediation fund regulations; upstream petroleum safety regulations; and upstream petroleum environmental regulations. He listed them as the upstream petroleum measurement regulations; advance cargo declaration regulations; significant discovery regulations; gas flaring, venting and methane emissions regulations; and domestic crude oil supply obligation regulations.
Ofoegbu said it became necessary to understand the regulation because, through the years of production in Nigeria, there has been the quest to know how much the country produces and how much it consumes, from upstream to midstream to downstream.The Nigeria upstream petroleum host community development trust regulation underscores a three percent annual allocation to host communities from operators’ operating expenditures.