Oil majors delay investment on $23.5b offshore projects
International Oil Companies (IOCs) operating in Nigeria may have devised means to compel the Federal Government into changing its fiscal policy on the Petroleum Industry Governance Bill (PIGB).
‘Federal government has lost $235 billion due to delay in passing the PIB’
Issues about the protracted petroleum industry Act in Nigeria have over the years refused to let go, possibly because of the overwhelming public and private interest in the sector.
Don’t celebrate progress on PIGB yet, says Kachikwu
The Minister of State for Petroleum Resources, Ibe Kachikwu has said Nigeria must not celebrate progress on the Petroleum Industry Governance Bill (PIGB) yet unless something is done about the fiscal aspect of the bill. Also, the Federal Government has deferred the award of new acreages until the PIGB is signed into law. He also…
Government targets June for passage of PIGB
The Federal Government expects the National Assembly to pass the harmonised version of the Petroleum Industry Governance Bill (PIGB) before the end of June this year, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said. At a roundtable on understanding petroleum reforms proposed by the PIGB by Media Initiative on Transparency…
Reps finally pass PIGB, Dogara urges Buhari to assent to bill
The House of Representatives, yesterday, passed the Petroleum Industry Governance Bill (PIGB), which provides for the governance and institutional framework...
‘Clear, coherent PIGB will attract investment in petroleum sector’
Ado Oseragbaje is the Chief Executive Officer, sub-Sahara Africa, Baker Hughes, a GE company (BHGE). In this interview with journalists in Lagos, he emphasised the need for clarity in the Petroleum Industry Governance Bill to attract the required investment.