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The Petroleum Regulatory Commission

Nigerian Petroleum Regulatory Commission

The Petroleum Regulatory Commission is the entity that will be established as the sole regulator in the Nigerian Oil and Gas Industry once the Petroleum Industry Governance Bill is passed.Regulatory roles in the Nigerian oil and gas industry are currently being performed by the DPR, NNPC and a host of other...


The Petroleum Industry Bill.2016 and Beyond

Petroleum Industry Bill 2016

The Petroleum Industry bill(P.I.B) has been under legislative scrutiny for almost a decade.Originally commissioned by ex- President Olusegun Obasanjo in 2007.The PIB Working committee was given a mandate to review Nigeria's Oil and Gas Industry and offer recommendations on how it can be more competitive and better...


Petroleum Industry Governance Bill 2016

Petroleum Industry Governance Bill 2016

The Petroleum Industry Governance Bill (PIGB) was carved out of the PIB as part of the initiative to break up the Petroleum Industry Bill (P.I.B) into manageable chunks.The PIGB emerged as a result of calls to break the original Petroleum Industry Bill (PIB) into component parts in order to achieve quick passage in...


Crude Oil Price and the 50 USD Benchmark for 2016

Crude oil forecast 2016

Most reputable financial organizations predicted a low price of crude for 2016.The World Bank in its January 2016 commodity forecast reported that the average spot price for crude will fall to 37USD/bbl.