Library / MIDSTREAM AND DOWNSTREAM PETROLEUM ANTI-COMPETITION AND CUSTOMER PROTECTION REGULATIONS, 2023
MIDSTREAM AND DOWNSTREAM PETROLEUM ANTI-COMPETITION AND CUSTOMER PROTECTION REGULATIONS, 2023
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(d) prevent or stop situations of abuse of dominant power and restrictive business practices. 4. (1) The Authority shall continually assess whether the petroleum industry is operating efficiently, or whether the existing market arrangements may constitute barriers to entry into the market for new market participants. (2) Where the Authority determines that the petroleum industry is not operating efficiently or that existing market arrangements constitute barriers to entry into the market it may direct a licensee or group of licensees to undertake a specific action to ensure efficient market operations and encourage entry into the market. Assessing the market 5. The Authority shall – (a) determine whether there is any anti-competitive activity being carried on and exercise its powers under these Regulations to prevent the continuance of the activity; and (b) determine and issue, by notice, any pre-conditions and any transitional arrangements required for any services to be offered competitively by licensees. Determining anti- competitive activity 6. Subject to the provisions of the Federal Competition and Consumer Protection Act in force, the Authority shall have power to prevent anti- competitive behaviour and may take any or a combination of the following actions— (a) monitor and determine whether any conduct by a licensee or any other person operating or intending to operate in midstream and downstream petroleum operations— (i) has the purpose or effect of substantially lessening competition in any segment of midstream and downstream petroleum operations, (ii) may likely result in anti-competitive or discriminatory conduct, including an unlawful exercise of market power that may prevent customers from obtaining the benefits of a properly functioning and competitive market, Powers of the Authority to prevent anti- competitive behaviour
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