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 […]
Oil Licensing Regime Under the Petroleum Industry Act 2021: Petroleum Exploration Licence (Part 1)
Prior to the Effective Date of the Petroleum Industry Act, 2021 (“PIA”), oil exploration and exploitation activities in Nigeria was governed mainly by the Petroleum Act, 1969 (“PA”) which was the principal legislation governing the oil and gas sector. Exploration and production companies had to obtain the requisite licence from the Minister 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 […]
Should Startups and Innovators be Concerned About the Proposed National Information Technology Development Agency (“Nitda”) Act 2021?
The National Information Technology Development Agency Bill 2021 (the “Bill) which suddenly came into circulation in the past week, has raised concerns amongst industry stakeholders. Although it is presumed that this Bill emanated from NITDA itself, we are not certain of this fact. World over, the exponential growth of the digital economy has stirred up […]
Review of the Petroleum Industry Bill 2021 – Part Three
Establishment and Objectives Section 29 (1) of the Petroleum Industry Bill 2021 establishes the Nigerian Midstream and Downstream Petroleum Regulatory Authority (the “Authority”) to oversee and regulate the technical and commercial aspects of both the midstream and downstream operations in the Nigerian oil and gas industry. Much like the Commission established to oversee upstream operations, […]
Review of the Petroleum Industry Bill 2021- Part Two
In the first instalment of our series on the review of the Petroleum Industry Bill 2021 (“PIB”, “Bill”), we focused briefly on ownership of petroleum, objectives and the extent of the powers of the Minister under the PIB as opposed to the subsisting provisions under the Petroleum Act (“PA”) under Chapter One, Parts I and […]
Review of the Petroleum Industry Bill 2021- Part One
After almost two decades, the long and protracted reform process of the Petroleum Industry Bill 2020 (“PIB”, “Bill”) culminated in the splitting of the Bill into four smaller legislations for quicker passage covering industry governance, fiscal management, industry administration, and host and impacted communities development. These various segments have now been merged into one cohesive […]
