The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned establishments responsible for the supply of crude oil to private refineries to stick to the rules of engagement or face severe sanctions for sabotaging the process.

The warning comes as more private refineries warm up to commence operation in Nigeria.

The Commission in a statement vowed to take all necessary steps within the prescriptions of the Petroleum Industry Act (2021) to ensure adequate and consistent supply of feedstock to operators.… Read the rest

The continuous upward climb of the foreign exchange in the country is heavily impacting on the downstream oil sector with many major marketers shutting down their fuel filling stations because of their inability to import the product.  

The Nigerian Midstream Downstream Regulatory Authority (NMDPRA) Chief Executive, Mr Farouk Ahmed, last week at the Oil Trading Logistics Africa Week 2023 in Lagos, disclosed that an average volume of 44.3 million litres of Premium Motor Spirit (PMS), popularly called petrol, was evacuated daily for distribution in the country.… Read the rest