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The federal government has banned crude oil exports of domestic refineries in the country.
As manufacturers and traders shorten the policy of rapid foreign exchange income, about 500,000 barrels of crude oil supply the international market per day.
The government warned the government through the Naprc Commission (Nuprc), and the government warned that it would deny the export permit for crude oil goods refused to use domestic oil refining.
In a statement from Abuja, the committee insisted that any change of goods designated as domestic refining goods must be clearly approved by its CEO.
In a letter on February 2, 2025, an engineer involved in exploration and production companies and its stock partners, the CEO of the Commission. Gbnga Komolafe said that transferring crude oil for the local refinery is a violation of the country’s existing law.
At a meeting last weekend, more than 50 key industry participants attended the meeting. The refineries and manufacturers accused each other because they implemented domestic crude oil supply obligations, DCSO, and policy contradictions.
Although the refinery claims that the manufacturer does not meet the provisions of the supply, but rather sell crude oil outside and forcing them to find raw materials elsewhere, the manufacturer refutes that the refinery is almost not in compliance with the terms of commerce and operation, forcing them to explore other markets in other places in other places. , To avoid unnecessary operation bottlenecks.
However, they agreed that regulators have taken appropriate measures to effectively implement the law.
Regulatory agencies warned that any party further violated any further violations and suggested that the refinery complied with the international best practice in procurement and operational affairs.
The committee reminds manufacturers not to change the conditions described in the DCSO policy without the CEO of the CEO, and then sell crude oil outside the agreed framework.
Komolafe refers to Article 109 (PIA) 2021 of the Petroleum Industry Act, which aims to ensure the stable supply of crude oil in domestic refineries and strengthen national energy security.
He said that NuPrc will have strictly implemented policies on implementing and breach of contracts on petroleum companies since then.
He said that the committee has adopted major regulatory actions, which is consistent with the law that enables the law to comply with DCSO.
He believes that these actions include the formulation and signing of production reduction and domestic crude oil supply obligations, as well as the creation of the establishment of the DCSO framework and the implementation program guide.
