Library / Midstream and Downstream Petroleum Operations Regulations 2025
Midstream and Downstream Petroleum Operations Regulations 2025

Page 40 of 82
B  2142
(b)  not load or unload petroleum liquids in the bulk storage facility without
the approval of the Authority;
(c)  not use the facility for the export and import of petroleum products
without the approval of the Authority; and
(d)  only source petroleum products to be exported from Nigeria from a
refinery or petrochemical plant located within Nigeria’s geographical
boundaries.
(7)  The volumes of petroleum liquids or natural gas or its derivatives to be
exported from a bulk storage facility shall be within the approved quantity in the
wholesale supply licence of the supplier, lessee or producer.
(8) The holder of a licence to operate a bulk storage facility shall not
operate the facility without —
(a)  a certified measurement system; and
(b)  an accredited laboratory.
(9) The Authority shall approve measurement systems and laboratories
prior to use for determination of quantity and quality at bulk storage facilities.
PART VIII — ASSIGNMENT, TRANSFER OR SURRENDER OF LICENCE OR PERMIT
83.  A licence or permit, or any right, obligation or interest, whether direct
or indirect, arising from a licence or permit, shall not be assigned or transferred
without the prior written consent of the Authority.
(2)  An assignment or transfer of a licence or permit without obtaining the
prior written consent of the Authority in accordance with the Act and these
Regulations shall —
(a)  be void; and
(b)  not recognised under the Act.
84.—(1) For the purpose of these Regulations, an assignment or transfer
of a licence or permit shall include assignment or transfer —
(a)  by merger of two or more companies;
(b)  by acquisition of a company or asset in whole or in part;
(c)  to a person in a group of which the transferor is a member;
(d)  to a new company;
(e)  by reason of devolution of ownership of shares or interest in ownership
of shares by operation of law, a judgement of a competent court of law,
appointment of a receiver, auction, or arbitral award;
(f )  by sale, exchange or transfer of shares, private placement or public
listing; and
(g)  by testamentary instrument or device, which specifies the interest
transferred or assigned.
(2) The Authority may, by notice, designate any other category of
assignment or transfer of a licence or permit.
Prohibition
of
assignment
or transfer of
licence or
permit
Nature of
assignment
or transfer of
licence or
permit