Govt negotiates with IOCs on PIB’s provisions

There are indications that the Federal Government has commenced negotiations with International Oil Companies (IOCs) and indigenous operators on the proposed fiscal regime contained in the Petroleum Industry Bill (PIB) with a view to amending some of the fiscal terms. Reports from The Guardian indicates that government is wiling to compromise in order to meet the IOCs midway on some of the fiscal issues particularly in relation to the proposed royalty regime.



Leave a Reply