The Fund which was prescribed by the Petroleum Industry Act, 2021, to protect communities hosting oil and gas midstream facilities such as refineries, pipelines, and gas processing facilities is yet to take off due to the absence of regulations by NMDPRA.
“The oil and gas sector contributes over 60 percent of total government revenue, and about 90 percent of total export earnings of this country. Speaking earlier, the Authority Chief Executive, Engr. Farouk Ahmed explained that the consultative forum would enable NMDPRA to collate ideas, positions and suggestions on the proposed draft regulations.
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