POLITICS

Seplat Petroleum Development Company Plc (“Seplat” or the “Company”) has reacted to a court order which was effected on 2nd December 2020 leading to the sealed off of its building and Corporate Headquarters located at 16A Temple Road, Ikoyi, Lagos. The building was sealed in connection with a court case by Access Bank against Cardinal Drilling Services Limited (“Cardinal Drilling”), ...

Delta State Deputy Governor, Deacon Kingsley Otuaro has move in to settle the rift between Ogulagha/Odimodi Communities and Shell Petroleum Development Company (SPDC) while advising all aggrieved communities to always leverage on the state’s peace institutions to resolve conflicts. Otuaro, gave the advise, Friday, shortly after closed-door meeting in Government House Annexe, Warri, with top management staff of SPDC led ...

……….by Abisoye Shola………… The Petroleum Industry Bill (PIB) in the work at the National Assembly is proposing that Oil companies operating in Nigeria are expected to incorporate a host community trust for social and economic benefit from petroleum operations in the host communities. From excerpts in the new Petroleum Industry Bill (PIB) obtained in Abuja, the aim of the trust ...

………by James Ikenna…………… Rivers Lawmakers is demanding Shell Petroleum Development Company (SPDC) to pay compensation to owners of building it marked for demolition. The lawmakers resolved this during it’s executive session in which it questioned the alleged plans by SPDC to demolish 800 buildings. This followed the failure of Shell to honour the invitation to it by members of the ...

The Senate on Tuesday at plenary passed for second reading the Petroleum Industry Bill (PIB). The passing of the bill for second reading followed an intensive debate on the intents and purpose of the PIB has been pending before the National Assembly since 2007. The PIB was sponsored for passage in 2007 and 2011 in the 6th and 7th Assembly, ...

The new Petroleum Industry Bill, 2020, currently before the National Assembly, is proposing the establishment of a specialized intervention mechanism, called the Midstream Gas Infrastructure Fund, to deepen gas usage in the country. According to the bill, the purpose of the Fund shall be to make equity investments of government-owned participating or shareholder interests in infrastructure related to midstream gas ...

by Musa Ibrahim……………. The Minister of State for Petroleum Resources, Mr. Timipre Sylva, while meeting with the National Assembly over the Petroleum Industry Bill (PIB) has said that the Nigeria National Petroleum Corporation (NNPC) will not be scrapped rather will be fully commercialized. According to news reports yesterday over the transmission of the PIB from the presidency to the National ...

There are strong indications that the Presidency may have transmitted the much awaited Petroleum Industry Bill 2020 to the National Assembly (NASS) and has proposed the creation of the Nigerian National Petroleum Company Limited. This move by the presidency to submit the bill to the NASS is not unconnected to the pledge by the Minister of State for Petroleum Resources, ...

As efforts to reforming Nigeria’s oil and gas sector through passage of the Petroleum Industry Bill (PIB) remains on the front burner, industry experts have continued to weigh in on the provisions that will make the bill a good one, capable of producing desired objectives. Experts posit that a key element of the bill is the Fiscal provisions that takes ...

The President of the Women in Energy Network (WEIN), Mrs Funmi Ogbue has said on Monday that the delays in the passage of the Petroleum Industry Bill (PIB) has led to uncertainties in Nigeria’s Oil and gas industry. She said that the current sector framework is ineffective, citing regulatory overlaps in responsibilities., “The expedient passage of and purposeful implementation of ...