ANNOUNCED AS TEMPORARYNo
Export licensing requirement
The Nigerian Government released the new guidelines as well as the categories of companies eligible to obtain crude oil export permit from the Federal Ministry of Trade and Investment of Nigeria.
After an earlier announcement that it was set to review the procedure to promote transparency and effectiveness, the ministry promptly released the guidelines that saw exporters of crude oil products aggregated under various categories.
According to new announcement, the eligible companies are Nigerian National Petroleum Corporation (NNPC), International Oil Companies (IOCs), Pipelines and Products Marketing Company (PPMC), Indigenous Oil Producing Companies, Major Oil and Gas Marketing Companies and Independent Petroleum Marketing Companies with valid Department of Petroleum Resources (DPR) licenses for storage facilities.
The ministry said the new permit will allow the approved companies to export crude oil, liquefied natural gas, liquefied petroleum gas, condensates, refined products, lubricants and grease.
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