Nigeria’s upstream regulator has demanded that crude oil producers in Nigeria ensure fair pricing practices to fulfil domestic crude supply obligations.
Gbenga Komolafe, the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), appealed during a courtesy visit by Mattieu Bouyer, the Managing Director of TotalEnergies, to the Commission’s headquarters.
Komolafe emphasised that the NUPRC, as a regulatory body, is committed to ensuring Nigeria’s energy security while simultaneously aligning with its production quota under the Organization of the Petroleum Exporting Countries (OPEC).
Highlighting the importance of balancing domestic energy demands with international commitments, he stated that fair pricing is crucial to achieving both goals.
In response, Bouyer commended the NUPRC for its effective regulatory oversight and reaffirmed TotalEnergies’ commitment to Nigeria’s Upstream sector, announcing that the company is interested in participating in the upcoming 2025 Licensing Bid Round.
