NMDPRA explores African crude oil benchmark to challenge foreign pricing

AI Summary

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is considering establishing an African crude oil price benchmark to better reflect regional markets and challenge foreign pricing influences. This aims to increase transparency and credibility in local oil pricing mechanisms.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said it is "exploring pathways for establishing a credible African reference price benchmark" that reflects regional market realities and supports transparent pricing mechanisms. The post NMDPRA explores African crude oil benchmark to challenge foreign pricing appeared first on Nairametrics.