The Department of Petroleum Resources (DPR), has outlined 4 major areas of focus for downstream operations, as part of its bid to continue to enable businesses and create opportunities in the oil and gas sector.
While making the disclosure in a signed statement, the Head of Public Affairs, DPR, Paul Osu, quoted Sarki Auwalu, the Director of DPR, as stating this, during a visit of members of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), to the regulatory agency on Wednesday, September 23, 2020, in Lagos.
READ: Why NNPC may sack depot managers
According to a report from News Agency of Nigeria (NAN), Auwalu, in his statement, listed the 4 major areas of focus as; quality for product assurance and customer satisfaction; the quantity for transparency, value for money and consumer protection; safety for personnel, assets, and public safety; as well as integrity for investment protection and business continuity.
He disclosed that DPR would continue to collaborate with DAPPMAN, to achieve national aspirations for the downstream sector of the oil and gas industry; which includes, price freedom, optimum petroleum products distribution network, petroleum products supply sufficiency, and curbing of petroleum products cross border leakages.
READ: FG to establish petroleum depot, oil and gas logistic centre in Akwa Ibom
He noted that as part of the Federal Government’s measure to reduce the burden of the increase in the pump price of petrol, due to subsidy removal and deregulation of the downstream sector; it has introduced gas as an alternative source of petrol. With the Ministerial declaration of 2020 as the Year of Gas, a new world of alternative fuels and investment opportunities had been created.
The DPR boss encouraged DAPPMAN executives to avail themselves of these opportunities, and partner with DPR to enable value creation for investors and government, as it has developed opportunities to drive gas expansion and penetration.
READ ALSO: The dangling fate of indigenous oil upstream operators
“DPR has developed a Gas Business Incentives and Support Programme (GBISP), to drive gas expansion and penetration. This includes key strategic initiatives, such as the implementation of the gas network code program to encourage gas base industries (GBI’s), and support for duty waivers consideration for equipment, tools, and materials for downstream gas facilities.’’
“It also includes streamlining registration for Liquefied Petroleum Gas resellers, and the ongoing gas commercialization program being put in place to achieve the GBISP.’’
Explore the Nairametrics Research Website for Economic and Financial Data
In her remarks, the Chairman of DAPPMAN, Mrs. Winifred Akpani, expressed delight at DPR’s robust regulatory initiatives and engagements with stakeholders in the oil and gas sector, which had created the enabling environment for their businesses. She also promised DAPPMAN’s support for the government’s policies, especially in its drive for price freedom in the downstream sector.
