Library / PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM PREVENTION OF ANTICOMPETITIVE PRACTICES AND BEHAVIOUR REGULATIONS, 2026 ARRANGEMENT OF REGULATIONS

PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM PREVENTION OF ANTICOMPETITIVE PRACTICES AND BEHAVIOUR REGULATIONS, 2026 ARRANGEMENT OF REGULATIONS

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(4) Independent Commercial Decision Requirement:  
Each Licensee shall ensure that its decision to supply, grant access, or transact 
with another market participant is made independently and on the basis of 
objective, transparent, and commercially reasonable criteria. 
(5) Investigative and Enforcement Powers: 
 Where the Authority observes or receives credible complaints regarding 
suspected coordinated refusal to deal, the Authority shall: 
(a) Initiate a formal investigation, including powers to compel the production 
of internal communications, supply records, meeting minutes, and other 
relevant documents; 
(b) Impose interim measures, where necessary, to prevent irreparable harm to 
competition or market integrity; 
(c) Pursue enforcement actions, including administrative penalties, orders to 
cease the offending conduct, and structural or behavioural remedies, as 
provided under the relevant provisions of the Act, Federal Competition and 
Consumer Protection Act and these Regulations. 
(6) Penalties and Sanctions 
Any Licensee found to have violated this Regulation shall be subject to: 
(a) Administrative fines which shall not exceed 5% percentage of annual 
turnover in the relevant market segment; 
(b) Orders to provide access or supply on non-discriminatory and fair terms; 
(c) Any additional sanctions or remedies as provided under the Act, the 
Federal Competition and Consumer Protection Act, or other applicable laws. 
(7) Non-Exemption 
No exemption, waiver, or justification under commercial freedom of contract 
or infrastructure ownership shall apply to conduct prohibited under this 
Regulation. 
 
 
PART VIII- DIGITAL MARKET PRACTICES AND DATA TRANSPARENCY 
OBLIGATIONS 
 
30. Market Data Provision, Shared Platform Access, and Prohibition of Data 
Manipulation 
 
(1) 
Duty to Provide Accurate and Timely Data to the Authority 
All licensees shall furnish the Authority with complete, accurate, and timely 
data or information as required for the effective exercise of its market oversight, 
monitoring, and competition enforcement functions. This obligation includes, 
but is not limited to: 
 
(a) 
Prices charged (wholesale, retail, and transfer prices); 
 
(b) 
Sales volumes, capacity utilization, stock levels, and throughput 
data; 
 
(c) 
Import/export 
figures, 
supply 
obligations, 
and 
affiliate 
transactions; 
 
(d) 
Other data relevant to market behaviour, dominance assessment, 
or competitive effects. 
(2) 
Mandated Periodic Reporting by Major Market Participants