Oil Licensing Regime Under the Petroleum Industry Act 2021 (Part 4): Petroleum Mining Lease

Oil Licensing Regime Under the Petroleum Industry Act 2021: Grounds for the Revocation of a Petroleum Prospecting Licence (PPL) (Part

Under the Petroleum Act (PA), there were 5 major grounds on which an Oil Prospecting Licence (OPL) could be revoked. Following the enactment of the Petroleum Industry Act (PIA) 2021, the grounds for revocation of a Petroleum Prospecting Licence (hereinafter referred to as “PPL” or the “Licence”) have been expanded to include circumstances not withtin […]

On the Regulation of Integrated Petroleum Operations: Takeaway from Recent Developments

ExxonMobil had applied to the Nigerian Upstream Petroleum Regulatory Commission (“NUPRC” or the “Commission”) for authorisation to treat its operations as an integrated operation. This application was subsequently granted by the Commission. Upon securing the Commission’s authorisation, ExxonMobil applied for and was granted clearance by the Commission to lift 12,600 metric tonnes of Butane at […]

The Concept of Deemed Approval in the Oil and Gas Industry

The Nigerian petroleum sector is a heavily regulated industry with unique laws and regulations to guide both government and key players in their respective operations. This industry remains the highest contributor to the nation’s GDP and its importance to the economy is responsible for the strict oversight role played by the ministry of petroleum resources […]

Environmental Regulation in the Oil and Gas Industry

Like many other sectors in the Nigerian economy, there seems to be a myriad of regulations, laws and policies tailored toward the protection of the environment. At the center of these regulations is the National Environmental Standards and Regulations Enforcement Agency (“NESREA” or “the Agency”) which has the general responsibility for promoting the sustainable development […]

Transparency in Resource Governance in the Oil and Gas Industry

The Nigerian economy is heavily dependent on the oil and gas sector. The sector accounts for about 65% of government revenue and 88% of the nations export earnings. However, what the nation earns in oil revenue cannot meet its budgetary needs, hence, the need to service some of her expenditure through debt. A number of […]

Review of the Petroleum Industry Act 2021

The President of the Federal Republic of Nigeria, President Muhammadu Buhari, finally signed the Petroleum Industry Bill (“PIB”) 2021 (now Petroleum Industry Act, “PIA”, the “Act”) into law on August 16, 2021, well over a decade after the first draft of the Bill was presented to the National Assembly. Although the PIA did not specify […]