NUPRC considers crude swap to help local refineries
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is consulting with industry stakeholders on a proposed crude oil and gas swap arrangement. The plan aims to reduce supply costs and make more crude available for Nigerian refineries. Oritsemeyiwa Eyesan, NUPRC Chief Executive, explained that the swap would optimise logistics and supply networks. The proposal comes as regulators seek to improve domestic crude supply and support local refining.
TLDR
- NUPRC is discussing a crude oil and gas swap to cut costs and boost supply to local refineries.
- The swap would allow producers to exchange supply obligations, reducing unnecessary crude transportation.
- Oritsemeyiwa Eyesan said the scheme would improve compliance with domestic supply obligations and involve the Gas Aggregation Company Nigeria Limited.
- NUPRC data showed that 53.7 million barrels of crude oil were supplied to local refiners between April and June 2026, representing 97.4% performance under the DCSO during the second quarter.
- Rabiu Abdullahi Umar, NMDPRA Chief Executive, praised the 2025 licensing round and supported efforts for strategic petroleum reserves to enhance energy security.
