NUPRC CRACKS DOWN ON OIL COMPANIES: NO EXPORT PERMITS FOR CRUDE MEANT FOR DOMESTIC REFINING
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GREATRIBUNETVNEWS–The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a stern warning to oil companies, stating that it will deny export permits for crude oil cargoes intended for domestic refining if they don’t fulfill their domestic crude obligations ¹. This move aims to ensure a stable supply of crude oil to domestic refineries and strengthen the nation’s energy security.
According to Engr. Gbenga Komolafe, Commission Chief Executive, diverting crude oil meant for local refineries is a violation of the law. He emphasized that any changes to cargoes designated for domestic refining must receive express approval from the Commission Chief Executive.
The NUPRC has taken significant regulatory actions to enforce compliance with the Domestic Crude Supply Obligation (DCSO) policy. These actions include:
– *Development and Signing of Regulations*: The Production Curtailment and Domestic Crude Oil Supply Obligation Regulation 2023 has been developed and signed.
– *Creation of DCSO Framework*: A framework and procedure guide for implementation have been created.
– *Monthly Monitoring*: NUPRC monitors compliance with production metrics during monthly meetings with upstream operators.
Komolafe stressed that the NUPRC will no longer tolerate violations of the laws governing domestic crude supplies to local refineries, as such actions have implications for the country’s energy security.
