Library / Page | 1 MIDSTREAM AND DOWNSTREAM PETROLEUM OPERATIONS REGULATIONS, 2024
Page | 1 MIDSTREAM AND DOWNSTREAM PETROLEUM OPERATIONS REGULATIONS, 2024
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Page | 7 PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM OPERATIONS REGULATIONS, 2024 CHAPTER 1 MIDSTREAM AND DOWNSTREAM PETROLEUM OPERATIONS [ ] Commencem ent In the exercise of the powers conferred on it by sections 33 of the Petroleum Industry Act, No. 6, 2021 (“the Act”) and all other powers enabling it in that behalf, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (the “Authority”), makes these Regulations — 1. The objectives of these Regulations are to - (a) regulate the operations of companies in the Nigerian midstream and downstream petroleum sector; (b) provide the procedure for the grant of licences, permits, authorisations and payment of fees for midstream and downstream petroleum operations; (c) regulate activities for the transportation, loading, lifting, shipment and export of natural gas or its derivatives and petroleum liquids in Nigeria; (d) prohibit illegal and unauthorised activities connected with natural gas or its derivatives and petroleum liquids in Nigeria; (e) regulate and ensure accurate measurement and allocation of natural gas or its derivatives and petroleum liquids; (f) determine the basis for calculating revenue accruing to government, licensees, contractors and other parties in midstream and downstream petroleum operations; (g) provide for the licensing of pipelines for natural gas, petroleum liquids and other process fluids within the Nigerian midstream and downstream petroleum industry; (h) regulate the construction and operation of pipelines used for transportation, distribution, storage and sale of natural gas, petroleum liquids and other process fluids in the Nigerian midstream and downstream petroleum industry; Objectives
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