Library / Page 1 of 7 MIDSTREAM AND DOWNSTREAM PETROLEUM THIRD-PARTY ACCESS AND OPEN ACCESS REGULATIONS, 2023
Page 1 of 7 MIDSTREAM AND DOWNSTREAM PETROLEUM THIRD-PARTY ACCESS AND OPEN ACCESS REGULATIONS, 2023
Page 3 of 7
Page 3 of 7 PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM THIRD-PARTY ACCESS AND OPEN ACCESS REGULATIONS, 2023 [ ] Commencement In the exercise of the powers conferred on it by sections 32 (g) and 33 of the Petroleum Industry Act, No. 6, 2021 (“Act”) and alll other powers enabling it in that behalf, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (“Authority”), makes these Regulations — 1. The objectives of these Regulations are to — (a) foster a competitive environment in the midstream and downstream petroleum sector by ensuring equitable and non- discriminatory access to facilities, infrastructure, and services for Third Parties; (b) optimise the utilisation of existing petroleum infrastructure, minimise duplication of investments, and facilitate the efficient movement of petroleum products within the supply chain; (c) facilitate the availability of affordable and diverse petroleum products to consumers by reducing transportation costs and promoting market-driven pricing; (d) establish transparent and accountable mechanisms for Third-Party access, ensuring licensees adhere to clear and equitable terms of access; and (e) provide for the resolution of disputes between licensees and Third Parties and ensuring timely resolution and preventing disruptions to the petroleum supply chain. Objectives 2. (1) These Regulations shall apply to activities relating to Third-Party access to facilities, infrastructure, and services in the Nigerian midstream and downstream petroleum industry as well as the movement of petroleum products within the supply chain. (2) Notwithstanding sub-regulation (1), the Authority may by notice designate the midstream and downstream companies to which these Regulations shall apply provided that the Regulations shall apply to all companies operating designated facilities as provided under the Act. Application
RegulationsPDF3