• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, June 25, 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 assures proper implementation of PIA, boost domestic crude supply

PIA

The Matters Press by The Matters Press
November 3, 2023
Reading Time: 2 mins read
0
NUPRC underscores need for optimal oil, gas production, revenue

Abuja, Nov. 3, 2023: The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the commission is committed to effective implementation of the Petroleum Industry Act (PIA 2021) for the sector to contribute more to national economy.

RELATED POSTS

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

ECOWAS, Sahel states in deal to confront terrorism

The commission says it will ensure that relevant sections of the PIA that affect its operations are duly implemented, including the Domestic Crude Oil Supply to licensed refineries in Nigeria.

Mr Gbenga Komolafe, Commission Chief Executive (CCE), NUPRC stated this during a meeting with Exploration and Production Companies on Domestic Crude Supply Obligation (DCSO) at the NUPRC headquarters on Wednesday in Abuja.

The meeting aimed at chatting a common front with NUPRC for alignment on the implementation of domestic crude oil supply obligation, operator’s compliance status and operator’s response.

As more private refineries indicate readiness to start production soon in Nigeria, the NUPRC is taking necessary steps within the prescriptions of the PIA 2021 to ensure adequate and consistent supply of feedstock to operators.

In line with its mandate of ensuring crude oil supply to licensed refineries in Nigeria as enshrined in Section 109 (4) of the PIA, the commission said it recently cautioned that there would be consequences and sanctions for sabotaging the process.

He said effective implementation of the PIA would create an enabling environment for players in the industry to thrive and ensure the petroleum industry generated more income for the government.

“As the pioneer regulator of the upstream sector, we want effective implementation of the relevant sections of the PIA, and we cannot shy away from it.

“We are committed to the effective implementation of the PIA in the interest of our industry and our dear nation.

“As I said, as a regulatory body, we will regulate in line with the provisions of the Act and whatever decision we take will be in line with the law to ensure growth and development,” he said.

Komolafe, however, urged industry operators to uphold best practices and comply with provisions of the law as the federal government, through its relevant bodies was carrying out reforms.

Tags: NUPRCPIA
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

79 candidates for presidential election
News

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

June 23, 2025
Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
ECOWAS, Sahel states in deal to  confront terrorism
Foreign

ECOWAS, Sahel states in deal to confront terrorism

June 20, 2025
Tinubu denies manipulating NASS
Economy/Technology

Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

June 20, 2025
Buhari urges Nigerians to maintain peace as he promises free, fair polls
Economy/Technology

TDF extols Buhari for supporting Tinubu’s reforms

June 19, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
News

Tinubu’s mid-term scorecard, a glimpse of coming dividends – TMSG

June 19, 2025
Next Post
NEITI raises committee on contract transparency

NEITI engages int’l community to advance extractive sector transparency

Value of China’s export to US dips

Chinese Yuan weakens to 7. 1797 against dollar

Recommended Stories

UN wants more investment to bridge $4trn financing gap

UN wants more investment to bridge $4trn financing gap

April 23, 2024
Nigeria to rebase CPI, GDP

Nigeria’s GDP improves by 3.52% in Q4 2022- NBS

February 25, 2023
Buhari unveils redesigned naira notes

POS operators, Katsina residents seek circulation of new naira notes

January 9, 2023

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

  • Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF
  • Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years
  • ECOWAS, Sahel states in deal to confront terrorism

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