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FG unveils four midstream, downstream oil sector regulations

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The Federal Government, on Sunday, announced the introduction of four additional regulations to address environmental and safety concerns in the midstream and downstream petroleum sector.

It announced this through the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja. It said the regulations were in line with the Petroleum Industry Act, 2021.

NMDPRA said “The specific regulations introduced are, “A Midstream and Downstream Petroleum Environmental Regulation 2023: This is designed to ensure that environmental standards and practices are upheld across midstream and downstream petroleum operations.

“Midstream and Downstream Petroleum Safety Regulation 2023: This prioritises safety measures and procedures in the midstream and downstream sector.

“Midstream and Downstream Decommissioning and Abandonment Regulation 2023: This outlines the requirements and procedures for the decommissioning and abandonment of petroleum facilities in the midstream and downstream sector.”

It added, “Midstream and Downstream Environmental Remediation Fund Regulation 2023: This regulation sets out the establishment and financial contribution of the fund for midstream and downstream operations.”

The aim of the Environmental Remediation Fund, it noted, was to provide resources for the cleanup, rehabilitation or management of negative environmental impact from petroleum operations nationwide.“These regulations will enhance value, create an enabling environment, and deepen activities in the midstream and downstream sector for the benefit of Nigerians. Therefore, market operators are hereby advised to adhere strictly to these regulations,” the NMDPRA stated.