Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » NUPRC unveils regulatory framework for energy transition

    NUPRC unveils regulatory framework for energy transition

    December 10, 2023
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Gbenga Komolafe, Chief Executive Officer,CEO NUPRC

    Eunice Imo Kalu

    Lagos — The Nigeria Upstream Petroleum Regulatory Commission has unveiled the regulatory framework for energy transition, decarbonization and carbon monetization for upstream operations in Nigeria.

    The Commission Chief Executive, Engr Gbenga Komolafe, unveiled the regulatory framework at COP28 in Dubai, the United Arab Emirates.

    With the theme “DRIVING SUSTAINABLE UPSTREAM OPERATIONS TO ACHIEVE JUST AND EQUITABLE ENERGY TRANSITION “, Engr Komolafe noted that, the regulatory framework has Natural Gas shift, zero routine gas flaring and methane abatement, carbon market development and Upstream operations efficiency as its key pillars.

    Others include technology and innovation, incentive mechanisms and collaboration and risk management.

    According to CCE, NUPRC as a regulator is at the forefront of championing the decarbonization of the Upstream operations for investment sustainability, economic growth and energy security for the benefit of Nigeria in line with national aspirations, which is in line with the Sustainable Development Goals.

    Engr Komolafe, therefore called on all stakeholders across board to join NUPRC as it progresses in the steady implementation of the framework within the coming months, which will be underpinned by applicable Directives, Guidelines and Regulations.

    He added that the implementation of the Regulatory Framework has already commenced on the heels of the issuance of the 2022 Guidelines for Management of Fugitive Methane and Greenhouse Gases Emissions in the Upstream Oil and Gas Operations in Nigeria.

    The CCE further states that, the introduction of the Gas Flare, Venting & Methane Prevention of Waste & Pollution Regulations 2023 provides the renewed legislative basis to take firm actions on gas flaring, venting and fugitive emissions.

    He told participants at the event that the NUPRC is focused on driving industry efficiency and sustainability based on the Petroleum Industry Act, PIA, 2021 and in line with the Nigeria Energy Transition Plan.

    He said, Nigeria has set Nationally Determined Contributions, NDC, in support of 2030 emission reduction targets for which Nigeria is committed to unconditional reduction of 20 per cent and conditional reduction of 47 per cent with international support in the form of financing, technology transfer, and capacity building.

    Related News

    Oil prices tumble following Trump touted Iran-Israel ceasefire

    Tinubu support for Dangote’s plan to reshape downstream sector

    BP and others pulling staff from Iraq oilfields, output steady

    E-book
    Resilience Exhibition

    Latest News

    NDDC eyes Cross River for IOCs-driven infrastructure partnership push

    June 24, 2025

    Nigeria targets 10,000 jobs, skills transfer in $400m minerals processing plant

    June 24, 2025

    RMDB meets stakeholders, unveils ambitious maritime development blueprint

    June 24, 2025

    ‘Africa’s economic future rests on integrating informal sector into AfCFTA framework’

    June 24, 2025

    Court fixes July 16th to decide Macobarb vs NLNG N5.74bn claim

    June 24, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.