May 21, 2024
Nigeria to upgrade oil downstream sector — DPR
DPR generates N2.24trn in 8 months, targets N5trn in December
– By Alison Godswill

Kindly Share

Facebook
Twitter
LinkedIn
WhatsApp

The Department of Petroleum Resources (DPR), yesterday, said the Federal Government is making efforts to upgrade the downstream of the petroleum industry to a global standard.

The downstream has the capacity to improve revenue from the oil and gas sector, increase contribution to Gross Domestic Product (GDP), and create massive employment, but has been bedeviled by various challenges in Nigeria.

The Director/Chief Executive Officer, DPR, Sarki Auwalu, at a virtual meeting with the members of the Major Oil Marketers Association of Nigeria (MOMAN), however, said the industry would leverage technology in its ongoing automation process for optimum performance.
According to him, DPR is currently deploying appropriate technology to enhance value for operators and investors alike in the downstream sector.

Auwalu also noted that DPR has concluded plans to launch the Downstream Remote Monitoring Systems (DRMS), an inventory and regulatory tool designed to track product levels across retail outlets and depots using the shortcode- *7117#.

The development according to him will create value for the sector by providing access to data for efficient management
of their operations.

Auwalu assured that DPR as partners in progress will continue to engage with MOMAN to ensure seamless communication and feedback on its regulatory activities.

He also said that DPR has developed a framework around quality, quantity, integrity, and safety (QQIS) for petroleum products in response to the current situation of price freedom in the downstream sector.

He lauded the support of MOMAN for the gas expansion programme of the government and advised the Association to ensure their members’ compliance with the gas add-on directive for their stations, as they are the energy bridge of the nation.
The Chairman of MOMAN, Tunji Oyebanji, assured the DPR of the marketers’ readiness to always partner with the Department for the development and growth of the downstream sector.

He applauded the technology deployment by DPR in its operations, which has enhanced its approval processes and data collection drive.

Kindly Share

Facebook
Twitter
LinkedIn
WhatsApp

Copyright @ TheDaily. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheDaily

Leave a Comment

Your email address will not be published. Required fields are marked *

📰 Subscribe to our Newsletter

Scroll to Top