Nigeria’s New Petroleum Industry Bill: A Move to Revive the Domestic Oil and Gas Industry - PDF by GlobalData

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									      Nigeria’s New Petroleum Industry Bill: A
      Move to Revive the Domestic Oil and
      Gas Industry
                                                                                Reference Code: GDGE0613VPT
                                                                                Publication Date: AUG 2009




Energy Viewpoint                                                              GDGE0613VPT / Published AUG 2009
© GlobalData. This brief is a licensed product and is not to be photocopied

Source: www.energyetrack.com                                                                                 Page 1
Table of Contents



1           Table of Contents

1      Table of Contents                                                                                          2

1.1       List of Figures                                                                                         4


2      GlobalData Viewpoint                                                                                       5

2.1       Summary                                                                                                 5


3 Nigeria’s New Petroleum Industry Bill: A Move to Revive the Domestic Oil and Gas
Industry                                                                           6

3.1       The Ailing Oil and Gas Industry in Nigeria Necessitated the Need for Overall Policy Change              7

3.2    PIB Will Help to Restructure the Regulatory Framework and the Fiscal System of the Oil and Gas
Industry                                                                                              7
  3.2.1    Restructuring of the Institutional and Regulatory Framework                                7
  3.2.2    The Proposed Change in the Fiscal System in Order to Increase the Government’s Revenue     9

3.3    The Bill Aims To Develop the Domestic Oil and Gas Industry by Increasing the Role of Domestic
Producers                                                                                                9
  3.3.1    The Bill Provides Additional Incentives to the Domestic Oil and Gas Producers                 9
  3.3.2    PIB Addresses the Need to Increase the Local Participation in Country’s Oil and Gas Industry 10
  3.3.3    PIB Tries to Give a Boost to the Natural Gas Industry in Nigeria                             10

3.4       The Bill May Hamper International Oil Companies’ Investments in the Country                            10


4      Recent Developments                                                                                       12

4.1       Jul 30, 2009: Nigerian Oil-Producing States Reject Petroleum Industry Bill                             12

4.2       Jul 28, 2009: Nigeria Loses $47 Billion Due To Shut-In Of SPDC Output                                  12

4.3       Jul 16, 2009: Nigeria's C
								
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