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8/14/2019 Highlights of Aspects of the Petroleum Industry Bill -
A Presentation to the Nigerian Association of Energy Economics
Conference 2009
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HighlightsofAspectsthePetroleumIndustryBill
Dr.Adeoye Adefulu
Odujinrin&Adefulu
arr s ers, o c ors o ar es u c
Lagos
Abuja
Port
Harcourt
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8/14/2019 Highlights of Aspects of the Petroleum Industry Bill -
A Presentation to the Nigerian Association of Energy Economics
Conference 2009
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Background
.
IJVs
UpstreamLicensing
Institutional
Framework
Odujinrin&Adefuluestd.1972
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8/14/2019 Highlights of Aspects of the Petroleum Industry Bill -
A Presentation to the Nigerian Association of Energy Economics
Conference 2009
3/10
Back round
Thrustofthereformisto:
Clearlyseparate
the
government
functions
in
the
oil
industry policy,regulatoryandcommercial
CreateastrongerNationalOilCompanymodeledafter
tato ,
etronas
etc
w t
more
n epen ence
to
nvest
inlocalproductionaswellasforeignmarkets
Odujinrin&Adefuluestd.1972
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8/14/2019 Highlights of Aspects of the Petroleum Industry Bill -
A Presentation to the Nigerian Association of Energy Economics
Conference 2009
4/10
NNPCtobecorporatised
Allassets
and
liabilities
of
NNPC
to
be
transferred
(s.137)
Exce t PSC assets
Howwill
it
be
funded?
underlaw woulditapply?
Odujinrin&Adefuluestd.1972
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8/14/2019 Highlights of Aspects of the Petroleum Industry Bill -
A Presentation to the Nigerian Association of Energy Economics
Conference 2009
5/10
Shouldtheybecreatedbynegotiationor
le islation?
Noprovisionsastotransferofassets&
Stampdutiesissues
Howwilltheassetsbeheld?
Willtransfer
of
OMLs
re uire
ministerial
consent?
WillJVcompaniesbeabletobookassets
Odujinrin&Adefuluestd.1972
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8/14/2019 Highlights of Aspects of the Petroleum Industry Bill -
A Presentation to the Nigerian Association of Energy Economics
Conference 2009
6/10
Sections4&257empowersministertogrant
licenses PPL&PML
y
y
u
companies
Notlessthan60%shareholdingbyNigerians
Mustbe
ratified
b
the
Ins ectorate
or
Directorate
Odujinrin&Adefuluestd.1972
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8/14/2019 Highlights of Aspects of the Petroleum Industry Bill -
A Presentation to the Nigerian Association of Energy Economics
Conference 2009
7/10
Ministergrantslicensesonthe
recommendationof
NPD
NPDtoconductlicensingrounds
o
more
scre onary
awar s NoexplicitlinkbetweenpoweroftheMinisterto
awardlicencesandNPDbidrounds
Odujinrin&Adefuluestd.1972
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8/14/2019 Highlights of Aspects of the Petroleum Industry Bill -
A Presentation to the Nigerian Association of Energy Economics
Conference 2009
8/10
Requirementtoconductenvironmental
ro rammesor
environmental
ualit
managementprogrammes
ThisappearstobeinadditiontotheEIA
requirements
regimeunderMinistryof
Odujinrin&Adefuluestd.1972
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8/14/2019 Highlights of Aspects of the Petroleum Industry Bill -
A Presentation to the Nigerian Association of Energy Economics
Conference 2009
9/10
CreationofNPD,NPI,NAPAMAamongst
others
Regulatoryfunctionsnotfullyseparated
evera
re erences
o
unc ons
o
e
carr e
ou
byNPDorNPI
Shouldapolicybodyholdacreage?
PSC
IsthereaneedforNAPAMA
Odujinrin&Adefuluestd.1972
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8/14/2019 Highlights of Aspects of the Petroleum Industry Bill -
A Presentation to the Nigerian Association of Energy Economics
Conference 2009
10/10
DrAdeoye
Adefulu
[email protected]
Odujinrin&
Adefulu
Barristers,Solicitors&NotariesPublic
Lagos Abuja PortHarcourt
Odujinrin&Adefuluestd.1972
