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Commodities

Nigeria Introduces Domestic Crude Oil and Gas Swap Arrangement

Guavy AI Editorial Team
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Oil
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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is exploring a domestic crude oil and gas swap arrangement to reduce costs and improve petroleum product availability in Nigeria.

Oritsemeyiwa Eyesan, NUPRC CEO, announced the initiative during a visit to the commission. She stated that the arrangement would 'reduce cost and increase availability of products in the country.'

The proposed swap arrangement aims to improve compliance with the domestic crude supply obligation (DCSO) and domestic gas supply obligation.

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