NUPRC Seek Fair Pricing From Oil Producers To Meet Domestic Supply Obligations

Commission chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has called on crude oil producers in Nigeria to ensure fair pricing practices to fulfil domestic crude oil supply obligations.

Komolafe made the appeal during a courtesy visit by the managing director of TotalEnergies, Mattieu Bouyer, to the Commission’s headquarters, in Abuja.

He 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 Organisation of the Petroleum Exporting Countries (OPEC).

Komolafe highlighted the importance of balancing domestic energy demands with international commitments, stating 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. He also announced the company’s interest in participating in the upcoming 2025 Licensing Bid Round.