PIA: Niger Delta council demands amendment of Section 103, 104 to allow remittance of gas flare penalty into trust fund
National Council on Niger Delta (NCND) has urged the Ministry of Niger Delta Affairs to propose an Executive bill to the Federal Executive Council (FEC) to amend Sections 103 and 104 of the Petroleum Industry Act (PIA) to facilitate the remittance of gas flare penalty into a trust fund for easy administration.
Major Oil Marketers Association of Nigeria (MOMAN) and other players in the downstream sector have urged the Federal Government to implement the Petroleum Industry Act (PIA) if it plans to wean Nigerians off cheap petrol and focus on other priority sectors.
The Petroleum Industry Act 2021 (PIA) is the extant legal framework, which regulates the legal, governance and fiscal configuration of Nigeria’s petroleum industry.
Speaker of the House of Representatives, Mr Femi Gbajabiamila has described the Petroleum Industry Act (PIA) as well as the Electoral Amendment Act 2022 as groundbreaking legislation.
Despite the provisions of the Petroleum Industry Act (PIA), stakeholders have expressed worry that policy flip-flops by the Federal Government, as exhibited in the ExxonMobil
There are indications that Nigeria may unlock about 10 billion barrels of crude oil, revenue of $5 billion and immediate Final Investment Decisions (FIDs) in key oil and gas projects worth $4 billion following renegotiation and new agreements in the 1993 Production Sharing Contract (PSC).
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Niger Delta Budget Monitoring Group (NDEBUMOG) has lamented the little impact or what is considered measurable infrastructural revival in the oil-producing region, despite previous interventions
20 Jul 2022
Stakeholders have insisted that there was a need for transparency and accountability in the nation’s extractive sector, stressing that the state oil firm, Nigerian National Petroleum Company Limited (NNPC)
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For political reasons, especially to keep the current government in power, the decision to stop the payment of subsidies has remained elusive and the rise of the cost of the scheme, believed to be in favour of the masses is now the leading cause of their adversity.
1 Jul 2022
AMID growing concerns, the people of Niger Delta have released a 19-page demand, among which is immediate review of Petroleum Industry Act (PIA) 2021 by the National Assembly.
26 Jun 2022
The signing of the Petroleum Industry Bill (PIB) 2021 into law brought an end to a 20-year agitation to reform the oil and gas sector in Nigeria.
25 Jun 2022
Minister of State for Petroleum Resources, Chief Timipre Sylva, has assured host communities producing oil and gas that the Federal Government has perfected plans to engage the people, especially in the Niger Delta on the details contained in the Petroleum Industry Act, (PIA).