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Petroleum Industry Fiscal Bill

Expert: Oil companies shut down fields for 180 days annually

A former Director of the Department of Petroleum Resources (DPR) and Lead Consultant to the National Assembly on the Petroleum Industry Bill (PIB), Mr. Osten Olorunsola, has disclosed that oil and gas companies operating in the country shut down producing fields for up to 180 days yearly as a result of the operational challenges in the Niger Delta.

PIB: NNPC calls for simplified fiscal terms

The Nigerian National Petroleum Corporation (NNPC) has urged the Senate to consider simplifying the fiscal provisions in the Petroleum Industry Fiscal Bill (PIFB) to ensure easy implementation of the law.

Senator Saraki lists gains of three new PIBs

The President of the Senate, Dr Bukola Saraki, has said that the three new Petroleum Industry Bills (PIB) being considered by the Senate will boost economic growth.

NNPC seeks cut in duration, split of oil licenses

The Nigerian National Petroleum Corporation, NNPC, yesterday, called for a downward review of the duration of petroleum licences as stipulated in the draft Petroleum Industry Administrative legislation, PIAB, currently before the National Assembly.

President Buhari urged to sign PIGB Bill

Prof. Wumi Iledare of the University of Port Harcourt, has urged President Muhammadu Buhari to assent to the Petroleum Industry Governance Bill (PIGB) passed by the National Assembly.

Fuel scarcity is man-made – Senator Saraki

The Senate President, Bukola Saraki, says the ongoing fuel scarcity in the country is man-made and that those responsible must pay the price for visiting needless hardship on Nigerians.

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