The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has obtained necessary approvals to implement Advance Cargo Declaration regime in upstream petroleum operations, to curtail export of stolen crude oil.
NUPRC says this will ensure that Crude Oil and Gas cargoes exported from Nigeria will have a unique identifier that confirms all documentation as regards the exported consignment.
Komolafe said this implied that any cargo that did not have the unique identifier was not legitimately exported from the country.
Similarly, he said in line with its statutory duties as regulator, the commission obtained necessary approvals to ensure installation of metering equipment (LACT Units) in the upstream petroleum industry, using Original Equipment Manufacturers (OEMs).He disclosed that this would avert potential manipulation of figures that could result in shortchanging the Federation of oil and gas revenue.
The CCE, however, noted that the commission was deliberate in identifying and sanctioning new projects and new field developments, to help boost the national oil production.
