Petroleum Industry Bill
PIB and oil sector transparency
The Petroleum Industry Bill (PIB) was introduced to the National Assembly in 2007. Contrary to all Nigerians’ expectations, the Bill, in its wholesale form, has survived three presidents and four convocations of the National Assembly. But its passage will not sacrifice thoroughness on the altar of speed, because it will be in the nation’s best interest…
PIB: NNPC to function as limited company in new bill
The present Nigeria National Petroleum Corporation (NNPC) will be reformed and incorporated as the Nigerian National Petroleum Company Limited (NNPC Limited) to assume a commercial status, the new Petroleum Industry Bill (PIB) reveals.
PIB scales second reading at Senate
The Senate has read the Petroleum Industry Bill (PIB) 2020 for the second time. Pending since 2007, the executive bill seeks, among others, to promote the competitive and liberalised downstream sector of the petroleum industry as well as the development of fuel and chemical industries. After debate on its general principles, the bill was referred…
National Assembly promises speedy consideration of PIB
The National Assembly has promised to hasten work on the Petroleum Industry Bill (PIB) resent last week by President Muhammadu Buhari. The clarification followed insinuations that the piece of legislation was to be abandoned until next year for consideration of the 2021 budget presented yesterday by the Nigerian leader. Senate spokesperson, Ajibola Basiru, said his…
NASS’ delay of PIB stirs anger
Nigeria’s National Assembly is still temporizing with passage of the Petroleum Industry Bill (PIB) and this is a source of worry to oil and gas stakeholders.
Concerns heighten over delayed PIB fiscal framework
Fresh concerns have arisen over the outlook of Nigeria’s oil and gas fiscal regime, as efforts intensify on the passage of the Petroleum Industry Bill
NCDMB dismisses IoCs’ concerns about Nigeria’s fiscal regime
The restlessness of some International Oil Companies (IOCs) on the new fiscal and regulations guiding Nigeria’s oil and gas sector is borne out of the desires of the firms to maximise profits
Senate mulls devaluation of naira, budget reduction
The Senate is considering options to cushion the impact of the nation’s dwindling revenue. It might reduce the N10.594 trillion budget of 2020 and back naira devaluation.
APC lauds Senate over passage of PSC amended Act
The National Chairman, All Progressives Congress (APC), Adams Oshiomhole, on Tuesday, commended the Senate over the passage of the Deep Offshore inland basin Production Sharing Contract (PSC).
PENGASSAN moves for speedy passage of petroleum bills
Petroleum and Natural Gas Senior StaffAssociation of Nigeria (PENGASSAN), has called on the Federal Government toengage critical stakeholders in the oil and gas sector for quick passage of thePetroleum Industry Bills pending before the National Assembly...