The Federal Government has 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 – NMDPRA in Abuja. It said the regulations were in line with the Petroleum Industry Act, 2021.
NMDPRA listed the specific regulations introduced to include, A Midstream and Downstream Petroleum Environmental Regulation 2023, which is designed to ensure that environmental standards and practices are upheld across midstream and downstream petroleum operations, Midstream and Downstream Petroleum Safety Regulation 2023, which prioritises safety measures and procedures in the midstream and downstream sector.
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.
The NMDPRA stated that the regulations will enhance value, create an enabling environment, and deepen activities in the midstream and downstream sector for the benefit of Nigerians. It therefore advised market operators to adhere strictly to the regulations.