The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said it is implementing the Upstream Asset Divestment Framework to guide the seamlessly non-destructive exit of divesting entities and promote sustainable operation for the acquiring parties.
This is just as the Nigerian National Petroleum Company (NNPC) Limited also assured of its support for the Dangote Refinery and all other refineries in the country to ensure that.
The Commission Chief Executive, Gbenga Komolafe, made this known at an energy conference- Nigeria Annual International Conference and Exhibition (NAICE) 2024, which began in Lagos, yesterday.
The conference has as its theme: “Petroleum Industry Value Chain Optimisation: The Inevitability of Midstream and Downstream Development.”
Komolafe, who was represented at the event by the Executive Commissioner, Development and Production, Enorense Amadasu, said the commission was entrenching collaboration with its sister agency, the NMDPRA and other key stakeholders to deepen end-to-end value in critical areas of operations.
To ensure robust development of oil and gas midstream operations, Komolafe said the commission would strengthen alignments on the administration of the Domestic Crude Supply Obligation and the Domestic Gas Delivery Obligation to grow the sector consistently with the provisions of the Petroleum Industry Act (PIA) 2021.
