The Nation on oil companies’ objections to the PIB

Yusuf Alli writes on the perceived objections of the multinational oil companies to the PETROLEUM INDUSTRY BILL 2012. Some of the areas of objections mentioned in the article include increase in taxes and royalties and the grant of vast powers to the Minister of Petroleum. It should be noted that the  PETROLEUM INDUSTRY BILL 2012 does not explicitly increase royalty rates although it grants the minister powers to determine these rates by regulations. The article can be found here.

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