NUPRC Plans Oil Swap Framework to Raise Supply, Cut Logistics Costs
Emmanuel Addeh in Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced consultations with stakeholders on a new framework for domestic crude oil and gas supply, including a proposed swap
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is in the process of developing a new framework for domestic crude oil and gas supply, which includes a proposed swap arrangement. The aim of this framework is to reduce logistics costs and increase the availability of feedstock for local refineries. The Chief Executive of NUPRC, Mrs Oritsemeyiwa Eyesan, revealed that the discussions on the proposed crude oil swap are still in the early stages.
The swap arrangement would allow producers to exchange their supply obligations based on the location of their crude and proximity of other suppliers to domestic off-takers, thereby avoiding the need for long-distance transportation.
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