Browsing: PIB

The division among Senators from Bayelsa State over the 3 per cent development funds in the Petroleum Industry Bill thickened on Friday with the Senator representing Bayelsa East, Biobarakuma Wangagha Degi-Eremienyo, warning ex-Governor Henry Seriake Dickson to stop instigating violence in the Niger Delta

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

Admin l Tuesday, June 05, 2018 ABUJA, Nigeria – The Nigerian National Petroleum Corporation (NNPC) has urged the Senate to…

Admin l Wednesday, May 16, 2018 LAGOS, Nigeria – The Nigerian National Petroleum Corporation (NNPC) has recommended the splitting of…

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

Admin l Friday, May 26, 2017 ABUJA, Nigeria – The Senate on Thursday finally passed the Petroleum Industry Governance Bill,…

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…