Browsing: Petroleum Industry Bill

Stakeholders in the oil and gas industry and the Trade Union Congress (TUC) have frowned at the provision in the Senate version of the Petroleum Industry Bill (PIB) that allowed only holders of active refinery licence to import petroleum products into the country.

I finally had an opportunity to go through the senate and house committee reports on the PIB. The main thrust of the bill is to open up the Nigeria oil and gas industry to investment, strengthen industry governance and regulation to expand, grow and maximize value capture for Nigeria and her citizens.

Southern Governors Forum has rejected the 3 percent share of oil revenue to host communities of oil facilities(Pipelines, oil wells, etc)  and 30 percent profiting sharing devoted for aggressive search for oil and gas in the dry North proposed in the Petroleum Industry Bill(PIB).The governors however favoured 5 percent initially proposed by the House of Representatives as revenue to be paid to  host communities where oil facilities are domiciled

Niger Delta leaders on Friday highlighted the gains of Petroleum Industry Bill (PIB), declaring the passage by the 9thNigeria National Assembly as a pointer to Nigeria’s path to greatness and development.

The jinx that bedeviled passage of the complete version of the Petroleum Industry Bill (PIB) was broken on Thursday, twenty years after it was introduced to the National Assembly.

Admin l Sunday, March 25, 2018 LAGOS, Nigeria – Oil marketers and the Organised Private Sector [OPS] on Sunday canvassed…

Admin l Thursday, November 09, 2017 ABUJA, Nigeria – The Chairman, Senate Committee on Petroleum Resources (Upstream), Senator Tayo Alasoadura…

Admin l Tuesday, March 14, 2017 ABUJA, Nigeria – The Nigerian National Petroleum Corporation (NNPC) has urged the National Assembly…

Nigeria, Sep 30, 2016 – The Nigeria Extractive Industries Transparency Initiative (NEITI) says Nigeria has lost a whopping sum of…

Emmanuel Ukudolo Abuja, Sept, 03, 2016 – The Nigerian National Petroleum Corporation (NNPC) has expressed fears about continued decline in…