• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, June 4, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

NUPRC to gazette upstream petroleum decommissioning

NUPRC

The Matters Press by The Matters Press
September 21, 2022
Reading Time: 2 mins read
0
NUPRC, others embark on joint investigation

The Nigerian Upstream Petroleum Regulations Commission (NUPRC) says it is at the final stage of gazetting and setting up fund under the Upstream Petroleum Decommissioning and Abandonment Regulations.

RELATED POSTS

FCT ground rent!: Check your name if you own property

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

IMPI urges media to consider national interest in reporting security challenges

The NUPRC said the regulation would be gazetted in October, adding that it was working towards meeting the timelines provided by the Petroleum Industry Act (PIA) 2022.

Dr Joseph Tolorunse, Commission Head of Compliance and Enforcement made this known on Wednesday in Abuja at the closing of its stakeholders’ engagement on regulations development as mandated by Section 216 of the PIA.

“The fund under the Upstream Petroleum Decommissioning and Abandonment Regulations is to be set up within 18 months of the effective date of the PIA which will be expired by Feb. 2023.

“In the next one month the regulation will be gazetted, we are almost at the final stage of the regulation,’’ Tolorunse said.

The seven draft regulations being considered by the stakeholders’ engagement include Acreage Management (Drilling and Production) Regulations and Upstream Petroleum Environmental Regulations.

Others are Upstream Petroleum Environmental Remediation Fund Regulations; Upstream Petroleum Safety Regulations; Unitisation Regulations; Upstream Petroleum Decommissioning and Abandonment Regulations and Frontier Exploration Fund Regulations.

According to him, these regulations are broke out into three syndicate sections which witnessed robust inputs and constructive criticism.

He said the NUPRC said before finalising these regulations, stakeholders’ engagement as provided by the PIA was needed to be done and that had been fulfilled.

“We are not taking it lightly, all the comments and inputs received, as well as resolution reached will be incorporated into the regulations.

“We are still going to look into those regulations we were unable to have convergence and when necessary we will call the stakeholders to discuss reasons why they should be taken on board or not.

“In some instance the regulations provided for penalty and how contributions would be made in the development of the industry generally, example:- the remediation fund regulations which enables contributions by companies to be channeled towards remediating the environment.

“Definitely it will enhance the image of the company and the country at large in the area where they operate,’’ he said.

He commended the active participation of the Host Communities, adding that their useful contributions would be considered seriously and also be reflected in the regulations.

The three-day forum has in attendance officials from the oil and gas operators, Chevron, IPPG, Indigenous and International Oil Companies and other stakeholders in the industry.

Tags: NUPRC
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Next Post
800 firms compete to manage gas flare sites

Officials blame drop in Nigeria’s gas export to vandalism

Nigeria, Equatorial Guinea in talks to boost gas production

Efforts ongoing to prevent further gas leak — NUPRC

Recommended Stories

Economists Challenge IMF on call for further VAT increase in Nigeria

IMF kicks against February 10 deadlines for use of old banknotes

February 8, 2023
Lekki Free Trade Zone new economic powerhouse of Nigeria – Reps Committee

Lekki Free Trade Zone new economic powerhouse of Nigeria – Reps Committee

August 19, 2022
Nigeria’s green bond market exceeds N55bn mark

Gombe State seeks NGX partnership to raise N30bn green bond

February 1, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,
  • IMPI urges media to consider national interest in reporting security challenges

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us