Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
1Activity
0 of .
Results for:
No results containing your search query
P. 1
EnergyandminingNewsletter.may

EnergyandminingNewsletter.may

Ratings: (0)|Views: 12 |Likes:
Published by Blackfriars LLP
Oil and Gas law in Nigeria, NNPC, Blackfriars, Oil and Gas Lawyers in Nigeria, Gas Flaring in Nigeria, OPL Permits
Oil and Gas law in Nigeria, NNPC, Blackfriars, Oil and Gas Lawyers in Nigeria, Gas Flaring in Nigeria, OPL Permits

More info:

Published by: Blackfriars LLP on May 25, 2009
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

05/11/2014

pdf

text

original

 
WWW.BLACKFRIARS-LAW.COM©Blackfriars LLP 2009. All rights reserved. This document is for general guidance only. Definitive adviceshould be sought from counsel if required. Blackfriars LLP is a Nigerian law firm with a representativeoffice in Toronto, Canada.
Misgivings Surround ProposedReform of NNPC and the Oil andGas Industry in Nigeria
 
May 2009, Volume 22 Issue #5
At the inception of the Yar’Aduaregime, a policy initiative aimed atreorganizing the Nigerian NationalPetroleum Corporation (NNPC) wasannounced. The key aspects of thereform proposal include the creation ofthree regulatory agencies, onecommercial centre, one research andtraining centre, one manpower trainingcentre, two fund organisations, such asthe Petroleum Equalization Fund andPetroleum Technology DevelopmentFund, as well as one frontier explorationservice.The reform proposal would also providefor the conversion of all existing jointventures into Incorporated JointVentures(IJVs). Each IJV will be acorporate entity to be incorporatedunder the laws of the Federal Republicof Nigeria, and the incorporationprocess including capilisation andrestructuring will be carried out throughnegotiations with the respectiveinternational oil companies (IOCs)during the reform transition period.In addition, there is a Gas Master Plan.The Gas Master Plan aims to addresssome of the key challenges confrontingthe Nigeria gas sector, notably that ofinadequate infrastructure andcommercial framework, which has had astrong impact on the ability of the sectorto supply as rapidly as the marketopportunity dictates.In the view of the government, thereform process was informed by the factthat the existing structures in the oil andgas industry are no longer relevant toNigeria, bearing in mind the technologydynamics of the global petroleumindustry. It was odd that thegovernment would announce radicalchanges to the regulation of the oil andgas industry without legislative backingand input by operators in the industry.However, nearly two years after makingnews, the proposals have receivedsceptical appraisals from various sectorsof the oil and gas industry in Nigeria.Indeed, the major misgiving about theFederal Government’s oil and gasreform agenda is that it may burden thealready troubled sector with moreproblems.

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->