Fed Govt Pushes For Transparency In Oil Industry
The Federal Government is seeking to bring transparency in oil industry and impose sanctions on firms that fail to, or partially publish details of their contracts as well as payments to governments and private sector annually.
The Federal...
Nigeria Loses N343bn As Oil Firms Burn 265bcf Of Gas In 9 Months
Despite Nigeria’s struggle with declining revenue, poor power supply and environmental degradation, oil and gas firms operating in the country flared 265.18 billion standard cubic feet, bcf, of gas between January and...
PIB Empowers Minister to revoke licences of oil firms over neglect of host communities
The new Petroleum Industry Bill (PIB) before the National Assembly is proposing the revocation of licences for oil and gas companies who neglect their obligations to the host communities.
The bill...
PIB: Host Communities And Transparency In Nigeria’s Oil Sectors
By Hon Abdullahi Mahmud Gaya
Petroleum Industrial Bill (PIB) was introduced to the National Assembly in 2007 contrary to all Nigerians expectations.
The Bill, in its wholesale form, has survived three presidents and four convocations of the National Assembly....
NEITI, CSOs Seek Transparency In Oil, Mining Contracts
The Nigerian Extractive Industries Transparency Initiative, the Centre for Transparency Advocacy and the Media Initiative for Transparency in Extractive Industries on Thursday faulted the level of transparency in oil and mining sectors contracts.
All three parties called on...
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...
