Pdf petroleum industry bill 2012 and the principle of vicarious. Apart from being wastage of valuable resources, this practice runs contrary to nigerias obligations. The context is nigeria and its development challenges contrasted with the nigerian oil industry, which dominates the nigerian economy as the core resource. The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transporting often by oil tankers and pipelines, and marketing of petroleum products. We shall update you on the changes made to the bill and the next steps. Oil exploration licences, oil prospecting licences and oil mining leases 3. The the petroleum industry bill of 2012 pib provides a legal, fiscal and regulatory framework for the nigerian petroleum industry. Download the authentic petroleum industry bill 2012. Iba new petroleum industry bill for nigeria debbie legall. Since then, there have been various reports on the refusal of the president to assent to the first of four bills seeking to reform the. By taiwo oyedele from sports to entertainment, tourism to technology, infrastructural development to industrialisation, and the list goes on nigeria is a country that is often celebrated more for her potentials than real achievements. The bill is divided into 9 parts, which propose to cover the entire spectrum of the oil and gas industry. The petroleum industry governance bill pigb was passed by the senate on 25 may 2017. The politics and crisis of the petroleum industry bill in nigeria the.
The draft of the new petroleum industry bill pib approved by the executive council of the federation fec on wednesday has set a very ambitious deadline for. The petroleum industry bill 20122 part three vanguard news. Nigerian president goodluck jonathan on july 18th sent a bill to the national assembly, which has been years in the making, to overhaul africas largest oil industry. Senate passes petroleum industry governance bill the. Petroleum industry bill pib 2012, niger delta region of nigeria, oil and gas. Petroleum industry governance bill as passed by senate. Updated january 20, 2012 the minister of petroleum, mrs. Nigerian petroleum industry bill 2012 pdf download. This is the passage of the first fragment of the comprehensive petroleum industry bill pib, which was broken into parts to.
Although the share of oil in gross domestic product gdp has. The house of representative joint committee on the petroleum industry bill 2009, abuja, 30 july. Colombia exports about half of its production, most of it to the united states. An evaluation of the effect of the proposed fiscal terms on investment in the upstream sector. The petroleum industry bill 2012 is a 223 page document with 362 sections and 5 schedules. The nigerian petroleum industry bill pib, which is currently being discussed in. Deziani allison madukwe has inaugurated an eight man panel to accelerate the passage of the law regulating the oil industry. The bill is the first in a series of long awaited petroleum industry laws designed to reform the nigerian oil and gas industry. Exactly 17 years after the commencement of the industry reforms, the petroleum industry governance bill 2017 the bill, was passed by the nigerian senate on the 26th of may, 2017, leaving high expectation for the corresponding passage by the lower house the house of representatives and setting the stage for the muchanticipated industry. The pigb is one of the four draft petroleum statutes that emerged after splitting the parent petroleum industry bill 2012 into four distinct bills to ease its passage following several years of.
Colombia became an oil exporter in the mid1980s and has remained that, as a result of policy changes made in 2003. Since then, there have been various reports on the refusal of the president to assent to the first of four bills seeking to reform the nigerian oil. Rethinking nigerias petroleum industry bill pib osiwa osiwa. Originally introduced in december 2008, the bill has undergone numerous revisions and has been the subject of intense debate. The petroleum industry bill 2012 is the culmination of several years of efforts at industry reform. The senate on thursday passed the first part of the much anticipated petroleum industry bill pib after 17 year of consideration. This paper aims to explore the question of the role of business in development from a contextual point of view. Request pdf on jan 1, 2018, chukwuemeka chuks ezike and others published the petroleum industries bill. Citescore values are based on citation counts in a given year e. Petroleum oil is also the raw material for many chemical products, including. In july of last year, the pib was forwarded to the national assembly for consideration and passage into law. The key objectives of the bill as stated in part 1 of the pib are. A bill for an act to provide for the establishment of a legal, fiscal and regulatory framework for the petroleum industry in nigeria and for other related matters.
The bill still has to go through the house of representatives and the president. Senate passes petroleum bill, six others rejected by. Polices acts and notification ministry of petroleum and. Joint memorandum on petrol industry bill march 2012. The petroleum industry bill the pib or the bill is perhaps the most talked about piece of legislation in nigeria ever, given the far reaching reforms which it proposes to an industry which is the single most significant contributor to the national economy.
Petroleum industry bill 2012, niger delta principle of vicarious. The politics and crisis of the petroleum industry bill in nigeria volume 52 issue 3. The petroleum industry governance bill pigb has been passed to. In the long history of pursuing petroleum industry legislative reform in nigeria, this is the first time that a bill will be passed at the nigerian senate. Industry statistics list of petroleum companies operating in the philippines list of petroleum exploration companies 22.
Offences in connection with the distribution of petroleum products 6. An analysis of the nigerian petroleum industry bill 2012. It examines the salient provisions of the pib, juxtaposing them with relevant provisions of extant petroleum sector law, analyses the objectives of. An analysis of the nigeria petroleum industry bill2012. The petroleum exploration, development and production bill, 2017 1579 b vessel, vehicle or craft when stationary and used cap. Afr 440312012 amnesty international may 2012 3 and regulations that require companies to comply with internationally recognized standards of good oil field practice, and laws and regulations to protect the environment.
The nigerian oil and gas industry and it was ni multisim 10 pdf re. The petroleum industry bill 20122 part three the petroleum industry bill 20122 part three on july 25, 2012 10. Pdf the petroleum industry bill 2012 and the niger delta region. At the time of our report, the news coverage had focused on the president rejecting the bill because it whittled down his powers. Nigeria as one of the largest oil producer in the world, is also regarded as the second highest flarer of associated gas with petroleum production. This part of the blog seeks to summarise the bill along its 9 parts. The lawmaker said with the passage of the bill, there will be a slim, focused yet robust framework for effective institutional governance of the petroleum industry.
The petroleum industry in colombia is an important contributor to the countrys economy. Nigerian petroleum industry bill 2012 pdf establishment of the petroleum technical bureau. Alternatively you can download a pdf containing the link which can be freely shared online. Laws of the federation of nigeria petroleum act 1990. We have decades of experience analyzing tax, audit and business data. Reforming nigerias petroleum industry 3 the petroleum industry bills proposed fiscal regime 6 the petroleum host communities fund phcf and its ambiguities 10 environmental implications of passing the petroleum industry bill the following analysis was written and published over the period of august 2015. The petroleum industry bill pib is perhaps one of the most talked about pieces of legislation in nigeria given the far reaching reforms which it proposes to an industry which is the single most significant contributor to the national economy. Download the authentic petroleum industry bill 2012 by nobody. The pib is an executive bill for an act to provide for the establishment of a legal, fiscal and regulatory framework for the petroleum industry in nigeria and for related matters. Given the challenges confronting production and provision of energy in nigeria, the petroleum industry bill pib 2012 must be strengthened to recognize and. Journal of petroleum science and engineering elsevier. The petroleum industry governance bill was passed at its third reading at the nigerian senate today may 25th, 2017. Petroleum minister asks committee to fastrack pib bill.
The chairman of opts, representatives of indigenous producers, president of ijaw. The largest volume products of the industry are fuel oil and gasoline petrol. Kpmgs global network can help turn data into value. If the house of representatives concurs, it could be signed into law. It examines the countrys attempt to reconnect the oil industry business with development. The bill, which would be the needed legal spring board for the reform of the petroleum industry, has suffered delays caused by disputes over new fiscal terms proposed by. Last week we reported that the president withheld his assent to the petroleum industry governance bill pigb. The petroleum industry bill 2012 pib seeks to ensure that the management and allocation of petroleum resources in nigeria and their derivatives are conducted in accordance with the principles of good governance, transparency and sustainable development in nigeria. Fiscal regime under the new petroleum industry bill. Pigb is a fraction of a more comprehensive petroleum industry bill, one of the longest standing bills in the national assembly. Petroleum act chapter p10 chapter 350 lfn 1990 laws of the federation of nigeria arrangement of sections 1. Joint memorandum on petroleum industry bill march 2012 index.
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