Legal & Regulatory

N8.9bn rural electrification: Contractors sue commission, ministry

Dec 2, 2013

The Association of Rural Electrification Contractors of Nigeria (ARECON) has dragged the Energy Commission of Nigeria (ECN) and the Ministry of Finance to court over unpaid N 8.9 billion debt. The association, in a statement of claim filed by Prof. Yemi Akinseye-George, SAN, at the Federal High Court Abuja, is praying for an order that…

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Industrialists identify grey areas in PIB

Nov 27, 2013

The Lagos Chambers of Commerce and Industry (LCCI) has identified grey areas in the Petroleum Industry Bill (PIB), advising the Federal Government against passing it in its present state. Meanwhile, the joint Senate Committee on Petroleum Upstream, Downstream, Gas, Judiciary and Legal Matters, on Wednesday concluded its public hearing on PIB with a promise that…

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‘PIB will affect gas venture agreement’

Nov 26, 2013

The Chairman, Oil Producers Trade Section of the Lagos Chamber of Commerce and Industry, Mr Mark Ward, has said if the Petroleum Industry Bill (PIB) is passed into law in its present form, it will affect the Joint Venture Gas Agreement between the Nigerian National Petroleum Corporation (NNPC) and the international oil companies (IOCs). Delivering…

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The PIB oil workers want

Nov 26, 2013

As the clamour to expedite passage of the Petroleum Industry Bill (PIB) intensifies, oil workers under the umbrella of National Union of Petroleum and Natural Gas Workers (NUPENG) and Petroleum and Natural Gas Senior Staff Association (PENGASSAN) have listed key areas the National Assembly should tinker with to ensure it reproduces a bill that will…

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Senate to boost oil exploration in the North

Nov 20, 2013

A bill for an Act to create the National Frontiers Basins Exploration Agency, yesterday scaled second reading in the Senate. The bill sponsored by Senator Smart Adeyemi, (Kogi West), received unanimous support as senators described the Bill as long over due. The lawmakers believe that the agency, when created, would create an avenue for opening…

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Subsidy trial – Suspects urge court to hands off case

Nov 19, 2013

A N979.6 million subsidy case against two oil marketers, Oluwaseun Ogunbambo and Habila Theck suffered a setback yesterday before Justice Adeniyi Onigbanjo as a result of a pending application seeking its transfer to another judge. The marketers were asking the judge to hands off their case on the allegation that the court was biased against…

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Experts see discretionary power to award oil licences in PIB as unprogressive

Nov 14, 2013

The inclusion of the right to discretionary power to award oil licences by the president, and on delegated basis, by the minister of petroleum resources, in the current Petroleum Industry Bill (PIB) has been described as a lethal blow and unprogressive by industry analysts. According to them, if the provision is allowed to scale through,…

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Joint Senate Committee on PIB concludes public hearing

Nov 14, 2013

The joint Senate Committee on Petroleum Upstream, Downstream, Gas, Judiciary and Legal Matters concluded its public hearing on the  Petroleum Industry Bill (PIB) Wednesday  with a promise that the bill will be eventually passed into law. But the oil and gas producing communities in the Niger Delta, who made various submission yesterday, during the third…

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N855m fraud: How Keystone Bank officials, others defrauded Dozzy Oil – Witness

Nov 12, 2013

Justice Kudirat Jose of the Lagos High Court, in Ikeja yesterday heard how three officials of Keystone Bank Plc and one other defrauded Sir Daniel Chukwudozie of Dozzy Oil Limited of the sum of N855,000,000. Testifying as a first prosecution witness in the fraud case, Orji Chukuma, an investigative officer with the Economic and Financial…

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Lagos, experts task NASS on PIB

Nov 11, 2013

Amid insinuations that the Petroleum Industry Bill (PIB) currently before the National Assembly has been doctored to favour foreign oil multinationals, Lagos State Government and experts in the nation’s Petroleum and Gas sub-sector of the nation’s economy have urged the National Assembly to live above board in the discharge of its responsibilities. The state government…

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