The Managing Director of Seplat Petroleum Development Company, Mr. Austin Avuru, at the weekend observed that delay in the passage of the Petroleum Industry Bill (PIB) frustrated decisions in the industry in the last 15 years, THIS DAY reports.
Avuru noted that the delay in the passage of the bill significantly frustrated investment decisions in the industry, adding that the passage of the entire components of the bill would take away uncertainty which the absence of the bill had created for the past 15 years in the oil and gas industry. He also blamed the immediate past administration of President Goodluck Jonathan for the delay in the passage of the bill, saying the administration was not honest and sincere about reforming the industry.
He, however, promised that the company would not lobby to stop the passage of the full version of the Petroleum Industry Bill (PIB). Avuru said Seplat as an oil company would easily fit into the legislation once it is eventually passed in full into law, saying it was not losing any sleep over the passage of the complete bill. He spoke following insinuations that some oil multinationals were behind the delay in the passage of the full version of the PIB.