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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PART XIII-MARKET MONITORING AND SURVEILLANCE, INVESTIGATION, AND 
DETERMINATION OF ANTI-COMPETITIVE BEHAVIOUR 
 
69. Market Monitoring and Surveillance 
(1) The Authority shall proactively monitor the structure, conduct, and 
performance of the midstream and downstream petroleum markets on a 
continuous basis to: 
 
(a) Determine the degree of competition or market concentration in 
any market segment; 
 
(b) Identify and prevent anti-competitive behaviour, abuse of dominant 
position, or restrictive business practices; 
 
(c) Assess the efficiency, openness, and accessibility of market 
infrastructure and trading arrangements; 
 
(d) Detect early signs of market failure or the erection of barriers to entry; 
 
(e) Ensure compliance with the provisions of the Act, Federal 
Competition and Consumer Protection Act, these Regulations and other 
relevant laws on competition and market regulation. 
 
70. Scope of Monitoring Activities 
The market monitoring activities of the Authority shall include, but not be limited 
to: 
(1) Data Collection and Analysis: Obtaining and analysing economic and 
operational data from licensees and market participants relating to: 
(a) Pricing and margins at wholesale and retail levels; 
 
(b) Sales volumes, production output, throughput and market shares; 
 
(c) Capacity utilization and infrastructure access; 
 
(d) Supply chain arrangements including import schedules, terminal use, 
transportation and storage; 
 
(e) Affiliate transactions, discounts, and rebate structures; 
 
(f) Costs of production, importation, or transportation; 
 
(g) Entry and exit behaviour of market participants. 
(2) Market Studies and Sector Reviews: Conducting market studies, 
competition assessments, and ex-post evaluations of mergers or structural 
changes in specific segments or regions. 
(3) Review of Public Sources: Analysing industry reports, price bulletins, 
academic research, and independent market intelligence for supplementary 
insights. 
(4) Consumer and Stakeholder Feedback: Gathering and incorporating 
reports, complaints, or feedback from consumers, trade associations, and 
public interest groups. 
 
71. Licensee Reporting Obligations 
(1) All licensees and permit holders in the midstream and downstream 
petroleum sectors shall: 
(a) Submit to the Authority complete, accurate, and timely information 
relevant to market monitoring in the form, frequency, and manner prescribed 
by the Authority;