More Gas-to-power Infrastructure Coming Through PIB – Lawmakers         The Senate on Tuesday said more gas infrastructure required for power generation would be constructed in various parts of the country going by the provisions contained in the Petroleum Industry Bill. Deputy Senate President, Senator Ovie Omo-Agege, said...

We Must Reduce Oil Production Cost, Says Osinbajo         The Vice-President, Prof. Yemi Osinbajo, has said the oil production cut deal by the Organisation of the Petroleum Exporting Countries and its allies have resulted in lower revenue generation for the Federal Government. Osinbajo said on Tuesday that...

House’ll Pass PIB Within Six Months - Gbajabiamila         The Speaker of the House of Representatives, Femi Gbajabiamila, has said the House is determined to pass the Petroleum Industry Bill within the next six months. Gbajabiamila said the House would ensure that it passed a PIB that...

Nigeria’s Fragile Fiscal Regime May Stall $24bn Oil, Gas Projects         With the continued delay in the passage of the Petroleum Industry Bill (PIB) leading to a frigile fiscal regime mired by uncertainty, the African Energy Chamber (AEC), has said Nigeria and other African countries should...

PIB: FG Plans Single Regulator For Midstream, Downstream Sectors       The Federal Government plans to set up Nigerian Midstream and Downstream Petroleum Regulatory Authority to regulate operators in the midstream and downstream oil industry, under the new Petroleum Industry Bill (PIB). The new PIB is currently before...

PIB: FG To Add Strategic Reserves’ Financing Cost To Fuel Price         The Federal Government is proposing the addition of the costs of managing the national strategic stocks of petroleum products to the retail price of the commodities. The proposal, which is included in the 2020 Petroleum...