Legal experts brainstorm on PIGB implementation  

Legal experts in the oil and gas industry are set to gather in Lagos to fashion a roadmap for effective implementation of the Petroleum Industry Governance Bill (PIGB). The Senate had passed the bill earlier this year.

A two-day retreat has been scheduled for the event at Southern Sun Hotel, Ikoyi, holding on October 26 and 27. It s designed to interrogate key issues in the Act as well as other oil industry related bills still pending at the National Assembly.

According to Ms. Raqeebah Oloko, the Managing Director of Bromshy Communications Limited, this year’s theme “Petroleum Industry Bill: Its implementation a panacea for sustainable growth and self-reliance” was chosen to provide solutions to the numerous challenges threatening the future of the industry.

Aside from sessions on petroleum industry governance, multinational companies, local oil and gas companies, community relations and legal outlook, other issues to be tackled include the high cost of production, price cuts, high demand of the United States shale crude, alternative sources of energy and introduction of electronic vehicles into the market and among others.

The retreat is also aimed to provide petroleum industry stakeholders with a platform to rethink the legal framework for the oil and gas industry, position the industry as a global player, and ensure sustainable local utilization and effective management of the hydrocarbon resource.