Join us at 12:00 pm as we discuss the Petroleum Industry Administration Bill @NRGInstitute @OSIWA1 #FixOurOil
What is the Bill meant to do? #FixOurOil
What is the objective of the PIAB? What is it meant to achieve? #FixOurOil
The Regulatory Commission will be in charge of Acreage Administration #FixOurOil
Licenses that can be gotten in the Upstream Sector #FixOurOil
Exploration License will be for 3 years and it is renewable #FixOurOil
Petroleum license shall not exceed 5 years over acreage on land & shallow waters #FixOurOil
Petroleum license on acreage on land & shallow waters shall not exceed 500 square kilometers #FixOurOil
What will be the term of Petroleum Licenses? #FixOurOil
Discretionary award of petroleum licenses by the President #FixOurOil
Licensees of oil blocks shall be published in 2 daily newspapers #FixOurOil
How will signature bonus be measured? #FixOurOil
Is petroleum license renewable? #FixOurOil
Failure of a licensee to provide relevant data to the Commission shall attract a penalty of N15 million #FixOurOil
Are licensees liable to submit an Environmental Management Plan? #FixOurOil
What will be the timeline to apply for a license under the Midstream & Downstream Gas Sector Regulation? #FixOurOil
Who is in charge of Domestic Gas Aggregator? #FixOurOil
How will the facilities and infrastructure used in the Midstream Petroleum Liquids Sector be assessed? #FixOurOil
Who issues Crude Oil Refining License? #FixOurOil
There will be disputes at levels. How will it be resolved? #FixOurOil
Who is responsible for Market Regulation? #FixOurOil
All licensees must register with the Commission #FixOurOil
Licensees cannot flare gas without authorization by the Commission #FixOurOil
Penalty for flaring gas? #FixOurOil
Consequence for flaring gas without a permit? #FixOurOil
What if an operator fails to install metering equipment within the specified period? #FixOurOil
There are questions yet to be answered especially on the discretionary award of licenses by the President. This can lead to another case of MALABU #FixOurOil
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