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Congo’s Minister of Hydrocarbons to Drive Liquefied Natural Gas (LNG), Frontier Exploration and Production (E&P) Dialogue at African Energy Week (AEW) 2023
By Emmanuella Anokam Abuja, May 25, 2023 The Nigerian Upstream Petroleum Regulation Commission (NUPRC) has signed seven new regulations into law in attainment of the Petroleum Industry Act (PIA 2021) goals and reformation of the upstream petroleum sector. The Commission Chief Executive, NUPRC, Mr Gbenga Komolafe, at the signing ceremony said the regulations had been |
The Commission’s Chief Executive, Gbenga Komolafe said the regulations had been successfully concluded and issued.
Nigeria’s Petroleum Industry Bill was passed on 1 July, potentially ending a 13-year stalemate since it was first introduced in 2008. It is expected to radically reform Nigeria’s oil and gas industry and ensure that its citizens benefit more from its oil wealth. However some provisions appear to contradict this objective. One of these is the allocation of oil revenues to exploration in the country’s northern region.
Sustainable job creation in Nigeria's north is being undermined by the government's drive for higher crude oil production.