The PENGASSAN top man explained that DPR is responsible for the regulation of the activities of oil and gas companies and that the function cuts across private and government owned businesses.
"DPR is a regulatory body and does not look at whether a company is owned by government or the private sector. As long as you operate within the oil industry, you are bound to be regulated by it.
He disclosed father that a bill to make DPR independent had already passed the second reading at the National Assembly and would be passed into law before the end of the year.
"The bill will grant DPR the well deserved autonomy and independence to operate and be free of ministerial interference.
"We will also have the much needed funding and facilities that will be required to perform our duty and role effectively.
"We have been pursuing the issue of the PIB for a long time. I am glad that all hands are on deck to ensure that it comes into existence. It will surely move the oil industry forward," he said.
Ibrahim also declared that oil workers are not really opposed to deregulation, but added that: “It is just that government needs to put in place good roads and other infrastructure like electricity and security before the deregulation takes place”.
NAN reports that the president of the association, Mr. Charles Osezua, said at the yearly general meeting of the association which held last week in Lagos that adequate policies would facilitate gas storage in the country.
Osezua said that until these policies were effected, the dream of having adequate gas supply for domestic use would remain a mirage.
According to him, the Petroleum Information Bill (PIB) and the Gas Master Plan will ensure that investors make profit on their investments and that these two policies should be on ground before the issue of commercialising the sector will be negotiated and agreed upon by all the stakeholders.
He said that until these policies were in place no reasonable investor would be willing to invest in the sector.
Osezua said that the association was concerned about gas flaring because of its economic waste and without an understanding of what is needed for the gas industry to develop, the full economic benefits of this amazing fuel will be a waste.
He said that efforts were on by the association to capture gas at the flaring and channel level for the domestic market.
"We hope that the various move being made by President Umaru Yar’Adua-led administration to reposition the Nigerian oil and gas industry will meet the yearnings of the stakeholders and the
"We are at a unique time in the evolution of the Nigerian oil and gas industry. It is an opportunity for Nigeria to diversify and maximise the benefits from its hydrocarbon resources, using its gas to launch the economic rebirth of our economy.
"It is also our hope that events like our business forum will offer an excellent opportunity for the shapers of government policies to meet and brainstorm on this very critical issue," Osazua said.