NUPRC Consults Producers and Refiners on Crude Swap to Cut Domestic Haulage Costs

Nigeria · ENERGY Key Facts —Proposed mechanism: The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is consulting on a domestic crude swap that would let producers and refiners exchange supply obligations by location and settle volumes through netting. —Estimated savings: Industry sources cited by Nigerian me

[This Day] 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 arrangement aimed at reducing logistics costs and improving the availability of feedstock for local refineri

Nigerian refiners could save up to $329m with the proposed crude swap arrangement, cutting logistics costs and boosting domestic supply. Learn how this ini

Despite the improvement, however, the importation of crude oil into the country persists, prompting the Commission to engage industry stakeholders on measures to address the challenge.