
NIGERIA’S UPSTREAM PETROLEUM REGULATORY COMMISSION SAYS IT WILL DENY EXPORT PERMITS FOR CRUDE OIL CARGOES
Nigeria’s Upstream Petroleum Regulatory Commission (NUPRC) has announced that it will deny export permits for crude oil cargoes intended for domestic refining if oil companies do not fulfill their domestic crude obligations.
The commission insists that any change to cargoes designated for domestic refining must receive express approval from the Commission’s Chief Executive.
The CCE, Engr. Gbenga Komolafe, reiterated that diverting crude oil meant for local refineries violates the law.
The regulator warned against further breaches and advised refiners to adhere to international best practices in procurement and operational matters.
The CCE referenced Section 109 of the Petroleum Industry Act (PIA) 2021, which aims to ensure a stable supply of crude oil to domestic refineries and strengthen the nation’s energy security.
The NUPRC will strictly enforce the policy regarding implementation and defaults by oil companies.