NIGERIA’s PETROLEUM INDUSTRY ACT: Ministry of Justice reviews six new regulations
By Eyo Nsima
The Federal Ministry of Justice in Abuja, Nigeria, has started reviewing six new regulations, targeted at enhancing the implementation of the nation’s Petroleum Industry Act, PIA.
The regulations include Upstream Environmental Remediation Fund Regulation 2023; Upstream Environmental Management Regulation 2023; Upstream Petroleum Safety Regulation 2023; Upstream Petroleum Fees and Rent Regulations 2023; Acreage Management Drilling and Production Regulation 2023 and Advance Cargo Declaration Regulation 2023.
Already, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has succeeded in gazetting and publishing some regulations, including the Conversion and Renewal (Licences and Lease) Regulation 2022; Domestic Gas Delivery Obligation Regulation 2022; Petroleum Royalty Regulation 2022; Petroleum Licensing Round Regulation 2022 and Nigeria Upstream Host Communities Development Regulation 2022.
Others that have signed and currently undergoing the gazetting process include, the Nigeria Upstream Petroleum Measurement Regulations 2023; Production Curtailment and Domestic Crude Oil Supply Obligation Regulations 2023; Frontier Basin Exploration Fund Administration Regulations 2023; Nigeria Upstream Decommissioning and Abandonment Regulations 2023; Significant Crude Oil and Gas Discovery Regulations 2023; Gas flaring, Venting and Methane Emission (Prevention of Waste and pollution) Regulations 2023 and Nigeria Upstream Petroleum Unitization Regulations 2023.
