The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it is establishing accurate and reliable data relevant to determining the appropriate tariff methodology for the transportation and bulk storage of crude oil and natural gas in the country.
Farouk Ahmed, Authority Chief Executive (ACE), NMDPRA, revealed this at the 2022 petroleum liquid inventory reconciliation exercise from February 6 to 10, 2023, in Lagos, according to a statement.
The exercise involved the NMDPRA, Nigerian Upstream Petroleum Commission (NUPRC), crude oil and gas export companies, the Central Bank of Nigeria (CBN) and the Nigeria Extractive Industries Transparency Initiative (NEITI).
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The ACE, represented by Ogbugo Ukoha, executive director, Distribution Systems, Storage, and Retailing Infrastructure (DSSRI) said, “The expanded data ecosystem will cover petroleum liquid volumes evacuated by trucking, barging and pipelines.”
According to the statement, the development will also include a data system on terminal receipt volumes and terminal stock records, crude oil inventory records per company, per terminal, and quantities delivered to and received into refineries.
It will also include quantities evacuated to other midstream storage facilities, export permit volumes, and actual export volumes per company per terminal.
“It was scheduled to establish and authenticate common data on midstream statistics relating to crude oil, condensates, natural gas and its derivatives,” Farouk said.
According to the statement, the Petroleum Industry Act (PIA) 2021 mandates the NMDPRA to periodically reconcile data on crude oil terminal receipts, exports, refinery delivery, oil and gas transportation, and other related statistics interest to the Federation as this directly affects royalties being remitted.
