The Minister of Petroleum Resources, Deziani
Alison-Madueke has disputed the position being put forward by some
lawmakers that the proposed Petroleum Industry Bill (PIB) gives too much
power to her office.
The minister stated her position while speaking with journalists
after a meeting with senate members which was said to be a technical
briefing on the Petroleum Industry Bill to clear areas of doubt.
The petroleum minister in her presentation said in line with the deregulation drive of the PIB, the Nigerian National Petroleum Corporation (NNPC) will be unbundled to create a world-class National Oil Company (NOC) fashioned against the globally recognised models as Petrobras and Petronas.
She also said the section of the PIB which grants a 10 per cent equity advantage to oil-bearing communities from the net profit of oil companies operating in the areas is not new and have been captured in past bills which failed to become law.
The petroleum minister in her presentation said in line with the deregulation drive of the PIB, the Nigerian National Petroleum Corporation (NNPC) will be unbundled to create a world-class National Oil Company (NOC) fashioned against the globally recognised models as Petrobras and Petronas.
She also said the section of the PIB which grants a 10 per cent equity advantage to oil-bearing communities from the net profit of oil companies operating in the areas is not new and have been captured in past bills which failed to become law.
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