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By Ikechukwu Okaforadi and Musa Baba Adamu Senate President, Ahmad Lawan, yesterday told foreign oil dealers in Nigeria that the 9th Senate is not ready to entertain any compromise that will shortchange the interest of Nigerians as it moves toward passing the age-long Petroleum Industry Bill (PIB). Lawan sounded this warning when he received members of the Oil Producers Trade Section (OPTS), who paid him a visit in his office in Abuja. Addressing the delegation, Lawan said the PIB under its consideration will look into the cost of production of a barrel of oil in Nigeria, in juxtaposition w...

PIB: Free-for-all at NASS over who speaks for N-Delta On …Protest exclusion from making a presentation …Fracas over 10 per cent equity shares …Bill may cut monthly revenue flow to Federation Account — Finance Minister, RMAFC …Lawan pushes for reduced cost of crude oil production By Levinus Nwabuogo Lawmakers scampered for safety, yesterday, on the second day of the public hearing on the Petroleum Industry Bill, PIB, organised by the House of Representatives, as some members of host communities in the Niger Delta exchanged blows over harmonised leadership presentation directed by th...

PIB: Your production cost too high, Senate President tells International oil companies PIB: Your production cost too high, Senate President tells International oil companies • Seeks better deal for host communities Share President of Senate, Ahmad Lawan, has expressed concern over high exploration cost being claimed by International Oil Companies involved in joint ventures operations with Nigeria. To mitigate this, he said the National Assembly was determined to ensure that the cost was reduced to a tolerable level in the course of the passage of the new Petroleum Industry Bill (PIB) prese...

Senate President wants reduction in cost of crude oil production On Kindly Share This Story: President of the Senate, Ahmad Lawan has advocated for a reduction in the cost of crude oil production by International Oil Companies (IOC’s) operating in Nigeria. Lawan made the call on Thursday in Abuja, while receiving a delegation of Oil Producers Trade Section (OPTS) in Abuja. He said that the Petroleum Industry Bill (PIB) at the National Assembly would make provisions for reduction in the cost of crude oil production. “The cost of production in Nigeria is a major concern in the oil industry...

President of the Senate, Ahmad Lawan has advocated for a reduction in the cost of crude oil production by International Oil Companies (IOC’s) operating in Nigeria. Lawan made the call on Thursday in Abuja, while receiving a delegation of Oil Producers Trade Section (OPTS) in Abuja. He said that the Petroleum Industry Bill (PIB) at the National Assembly would make provisions for reduction in the cost of crude oil production. “The cost of production in Nigeria is a major concern in the oil industry, my colleagues in the committees that are oil and gas related know better. “But from the li...