Outline Introduction Objectives Regulatory bodies Petroleum operations and licenses Host Communities Development Frontier Exploration Fund Tax No longer in use Download Gazette and Article on PIA 2021 1. INTRODUCTION The first commercial discovery of oil in Nigeria was in 1956…
President Buhari signed the Petroleum Industry Act (PIA) 2021 into law on the 16th of August 2021. PIA contains five chapters. First chapter looks at the Governance and Institutions. Second chapter 2 covers the Administration while the third chapter 3…
Nigerian President has signed the Petroleum Industry Bill (PIB) 2020 into law. The PIB aims to reform the oil and gas sector after two decades of deliberation. Though Nigeria relies heavily on oil revenue, the industry was fraught with problems.…
On 4 November 2019, the Nigerian President assented to the Deep Offshore and Inland Basin Production Sharing Contract (Amendment) Bill 2019. The amended bill reviews the regulation of deep offshore oil fields in Nigeria. Four (4) proposed changes to the…
Oil and gas companies operating under production sharing contracts (PSCs) in the Deep Offshore and Inland Basin are governed by the Deep Offshore and Inland Basin Production Sharing Contract (DOIBPSC) Act, Cap D3 LFN 2004. The Nigerian Senate has now…
