By Obas Esiedesa, Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Friday disclosed that it is consulting with stakeholders on introducing domestic crude oil and gas swap arrangements to reduce costs and increase the availability of petroleum products in the country.
A statement by the Commission said its Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this during a courtesy visit to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja.
Eyesan said the proposed swap arrangement, once finalised, would improve compliance with the Domestic Crude Supply Obligation (DCSO) and the Domestic Gas Supply Obligation. She added that the initiative would be coordinated with the Gas Aggregation Company Nigeria Limited (GACN).
According to the latest NUPRC statistics, domestic crude supply to local refiners has improved significantly, with 53.7 million barrels supplied between April and June 2026, representing a 97.4 per cent performance in the second quarter.
