The Nigeria Midstream and Downstream Petroleum Regulatory Authority say that it was drafting six regulations on midstream and downstream operations to ensure clarity, including on the issue of appropriate gas pricing.
The Authority Chief Executive, NMDPRA, Mr Farouk Ahmed, noted that the new regulations will further improve business processes and ease of doing business in the sector.
The NMDPRA also acknowledged the gradual growth of indigenous players in local exploration and production of petroleum products but said that more needed to be done.
Ahmed further pledged the authority’s commitment to making the business climate in the midstream and downstream conducive for local and foreign investment to thrive.