Ownership of petroleum in situ or in the ground is important. The owner of petroleum has the right to determine how that petroleum is developed and produced. In some countries, ownership belongs to the person that owns the land (USA), in others, ownership is held by the country or the National government (United Kingdom), and yet in others, the sub-national entities have ownership rights (Canada).Continue reading “Ownership of Petroleum under the Petroleum Industry Bill 2020”
PIGB laid before the Senate for Debate
The Joint Committee tasked with reviewing the Petroleum Industry Governance Bill (PIGB) in the Senate has laid its report before the house. This signifies the completion of the Committee’s review process. The next step is the clause by clause debate of the Bill at its third hearing, currently scheduled for the 25th of April, 2017. Continue reading “PIGB laid before the Senate for Debate”
David Mark orders Senate Joint Committee on PIB to conclude deliberations
Following a Point of Order raised by the Senator representing the Ekiti-North senatorial zone, Senator Olubunmi A. Adetunbi, the Senate President, David Mark, gave orders that the Senate’s Joint Committee on the Petroleum Industry Bill (“PIB”) conclude work on the Bill and return same to the Senate for prompt passage.
It was reported that Senator Adetunbi’s plea was prompted after he was put on the spot at a function he attended. At the occasion, the Senate was accused of toying with critical issues affecting the economy especially the PIB.
It will be recalled that the PIB was committed to the Senate’s Joint Committee for deliberations on Thursday, March 7, 2013.
The Guardian on the proposed DPRA
Collins Olayinka of The Guardian writes here on the proposed changes to PPPRA, including the change of name and the exclusion of non-professionals on its board under the PETROLEUM INDUSTRY BILL 2012.
The Nation on the need to fast track the passage of the PIB
Ifeanyi Nwabugu of the Nation writes on the importance of the Petroleum Industry Bill and the need to fast track its passage here.
Businessday – PIB critics outline concerns
Patrick Atuanya and Olusola Bello of Businessday highlight some concerns of “industry sources” on the PETROLEUM INDUSTRY BILL 2012. The paper is highly critical of some aspects of the bill, but is short on facts and independent analysis. You can find the paper here.