Petroleum Industry Bill
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...
Stakeholders raise concern over poor metering for crude in Nigeria
The Nigeria Extractive Industries Transparency Initiative (NEITI), and other stakeholders in the oil and gas sector, yesterday, in Abuja, insisted that inadequacy in the metering of crude oil production in the country could continue to affect the nation’s revenue.
Issues before the new petroleum minister
Nigeria’s oil industry is understandably filled with expectations over the agenda of our new Oil Minister. Many industry executives and stakeholders believe that Timipre Sylva, sworn-in as the Petroleum Minister six weeks ago..
Non-passage of PIB, regulations drag about $100b oil projects
With drawbacks in the passage of the Petroleum Industry Bill (PIB), as well as various unfavourable fiscal and regulatory frameworks, stakeholders have estimated $100 billion worth of projects awaiting final investment decisions in Nigeria’s oil and gas sector.
Addressing uncertainties in oil, gas sector via clear legislations
Notwithstanding exploration and production interests expressed by oil majors in Nigeria’s oil and gas sector, the lack of clarity on the legal regime, especially as it relates to royalties and renewal of several oil blocks, has stalled investors from making final investment decisions. While operators like Shell, are moving ahead, the country remains, to some…
‘Regulations have force of law under Interpretation Act 1964’
It is true that policies lack the force of law. However, regulations are subsidiary legislations and have the same force of law as their principal...
LCCI tasks FG on moderating inflation, National Assembly on budget passage
Citing the expected impact the upward review of minimum wage and election-related experience may have on inflation rate, the Lagos Chamber of Commerce and Industry (LCCI) has emphasised the need for the Federal Government to enhance non-oil sector productivity to increase output and moderate inflation. Similarly, the chamber urged the National Assembly to consider and…
Brass, Olokola LNG: Succumbing to organised sabotage
Nigeria's natural gas reserve is estimated to be about 192 Trillion Cubic Feet (TCF), and that places the country as ninth largest holder of proven gas in the world. Indeed experts, including the former Director of the Department of Petroleum Resources (DPR) and Lead Consultant to the National Assembly on the Petroleum Industry Bill (PIB),…
PIB: A bill too many
“I believe that if the EIA Act is religiously administered … the PIB would hardly be necessary…” The Guardian, April, 11, 2016 The general perception that most of our elected officials are painfully wanting in diligence, respecting their constitutional responsibilities may well be the reality, most regrettably so. A section of the leadership of the…