shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Existing Petroleum Industry Laws for Repeal

Existing Petroleum Industry Laws for Repeal

by Joshua
March 1, 2009
in Uncategorized

The new Petroleum  Industry Bill which is currently before the National Assembly  is expected to herald the repeal of the eight laws that are currently guiding the operations of the Nigerian oil and gas industry.
Speaking last week in Abuja at a round table on the new law, the Company Secretary, Nigerian National Petroleum Corporation (NNPC) Prof. Yinka Omorogbe disclosed that existing law guiding the nation’s oil and gas sector would be repealed once the new Petroleum Industry Bill is passed.The rSkip to next paragraphoundtable on the bill  was convened by the Africa Network for Environmental and Economic Justice.
According to Omorogbe, the laws that would be repealed include :  the Petroleum Act of 1969 and amendments, Petroleum Profit Tax Act and amendments, Nigerian National Petroleum Corporation Act and Petroleum Products Pricing Regulatory Act.
Others are: the Oil Pipelines Act, Associated Gas Re-injection Act with the Regulations, Petroleum Equalisation Fund Act and Petroleum Technology Development Fund Act.Giving an insight into the impending reform that culminated into the new Oil and Gas Sector laws, Omorogbe who was  a member of the reform committee  explained that the reform  did not recommend  any review of the structure and operations of the Petroleum Training Institute, Efurum, Delta State, neither did it interfere with contractual agreements entered into by government with third-party partners in the sector. She told the gathering that laws governing all agencies in the oil and gas industry will now be subsumed under the new Petroleum Industry Bill.
Omorogbe, a Professor of law added that before arriving at its recommendations, the committee consulted widely with all stakeholders in the sector, but explained that it  did not think it was important to  seek the opinion of  multinationals because her committee felt that it was a Nigerian government reform programme.


Related Posts

Meningitis: Death Toll In Kebbi Hits 56 – Govt 

Meningitis: Death Toll In Kebbi Hits 56 – Govt 

March 24, 2025
Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

January 8, 2025
PHOTO NEWS: SIFAX Thanksgiving and Night of Praise 2.0

PHOTO NEWS: SIFAX Group Thanksgiving and Night of Praise 2.0

December 18, 2024
NEPC Frowns at $480m Expenditure on Importation of 3m Tonnes of Rice Importation

Eastern Ports Set for Boost in Investments as Dantsoho Tours Onne and Rivers Port Complexes

December 6, 2024

Discussion about this post

Latest News

NARTO, Maritime Workers Oppose e-Call Up levy

NARTO, Maritime Workers Oppose e-Call Up levy

June 17, 2025

Customs Refutes Extortion Allegation At Lagos Airport

Oyetola Seeks Island Nations’ Backing for Nigeria’s IMO Council Bid

Centre for Marine Surveyors Leads Initiative to Enhance Industry Standards, Regulations

Experts Advocate Stronger Marine Space Governance as Key to Nigeria’s Blue Economy Success

Dantsoho’s Giant Strides at NPA: Port Reforms, Trade Growth, Maritime Diplomacy Define New Era

Vessels Expected At Lagos Ports As At 16th June, 2025

Anxiety Mounts As Delay Stalls Nigeria’s National Single Window Project    

Stakeholders Clamour For Insurance-Based New Container Deposit Refund System, Says Old System Fraudulent

Lagos Govt Dares Tanker Owners As E-Call Up Starts On Lekki-Epe Corridor Today

Rail Cargo Movement Hits 133,116 Tonnes in Q1 2025 Amid Renewed Push for Multimodal Transport   

Why Commercial Motorcycles Still Ply Apapa, TinCan Port Access Roads Despite Government Clampdown 

kindly like our Facebook page

Health

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts
Health

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025

Association of Medical Laboratory Scientists of Nigeria, Lagos State chapter, has raised the alarm over the increasing number of men...

20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025
Some Truths and Myths About Agbo Herbal Concoction

Some Truths and Myths About Agbo Herbal Concoction

April 21, 2025
The Malaise Of Misuse of Antibiotics

The Malaise Of Misuse of Antibiotics

April 14, 2025
Urologist Debunks Breast-Cancer Prevention Myth

Urologist Debunks Breast-Cancer Prevention Myth

April 14, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition