One of the pertinent questions in
the energy corridors of Nigeria, Africa’s premier oil and gas producer is: what
ails the Nigerian Petroleum Industry Bill, PIB? This is due to concerns of
industry operators, analysts and the teeming population of Nigerians that the
Petroleum Industry Bill, against expectations is taking longer time to
become a law.
It is hoped that when the
PIB becomes law, it will help to usher in a new lease of life, cure
the Dutch disease in Africa’s most populated country and number eight OPEC
producer of oil, ensure maximum participation of local companies in operating
the oil industry and also make the national oil company – NNPC to become
commercialized, profit –oriented and more efficient like Petrobras, and
Petronas.
PIB becomes law, it will help to usher in a new lease of life, cure
the Dutch disease in Africa’s most populated country and number eight OPEC
producer of oil, ensure maximum participation of local companies in operating
the oil industry and also make the national oil company – NNPC to become
commercialized, profit –oriented and more efficient like Petrobras, and
Petronas.
As Nigeria continues with the struggle
to churn out a new petroleum law amid its Nigerian Content Policy (Local
Content) which is already operational, many other producing African nations
such as Gabon. Equatorial Guinea, Congo DR, Congo – Brazzaville, Chad, Sudan,
Cote d’Ivoire, Ghana and soon to become oil – producers are reforming and creating
new petroleum laws.
to churn out a new petroleum law amid its Nigerian Content Policy (Local
Content) which is already operational, many other producing African nations
such as Gabon. Equatorial Guinea, Congo DR, Congo – Brazzaville, Chad, Sudan,
Cote d’Ivoire, Ghana and soon to become oil – producers are reforming and creating
new petroleum laws.
While these laws and local content
policies are geared towards resource nationalism, equitable partnership,
economic development and harmonization of operation between international oil
companies and their local counterparts, the impact of the
PIB in attracting more foreign direct investment (FDI) or
discouraging it has become of grave concern to market analysts, the
investment community, oil companies, international finance
organizations, economic development agencies and the World Bank.
policies are geared towards resource nationalism, equitable partnership,
economic development and harmonization of operation between international oil
companies and their local counterparts, the impact of the
PIB in attracting more foreign direct investment (FDI) or
discouraging it has become of grave concern to market analysts, the
investment community, oil companies, international finance
organizations, economic development agencies and the World Bank.
The existing legal framework for doing
oil and gas business in Africa, with in depth analysis on the impact of
petroleum laws in ensuring adequate foreign direct investment in Africa will
constitute the foundation of a major panel discussion at the upcoming 6th
Annual Sub – Saharan Africa Oil & Conference scheduled for April 25 – 26,
2013 at Marriott West Loop, Houston, Texas, United States.
oil and gas business in Africa, with in depth analysis on the impact of
petroleum laws in ensuring adequate foreign direct investment in Africa will
constitute the foundation of a major panel discussion at the upcoming 6th
Annual Sub – Saharan Africa Oil & Conference scheduled for April 25 – 26,
2013 at Marriott West Loop, Houston, Texas, United States.
A seasoned panel made of distinguished
panelists from reputable oil and gas law firms, banks, finance corporations and
national content experts will be making expert analysis and projections.
panelists from reputable oil and gas law firms, banks, finance corporations and
national content experts will be making expert analysis and projections.
Some of the panelists are from IFC –
World Bank Group, EcoBank – Sub- Saharan Africa’s largest investment bank with
footprint in more than 32 countries in the region, Fulbright & Jaworski Law
firm, Miranda Alliance Law firm, Burleson LLP, Adepetun Caxton – Martins, Agbor
& Segun and Detail oil and gas law firm.
World Bank Group, EcoBank – Sub- Saharan Africa’s largest investment bank with
footprint in more than 32 countries in the region, Fulbright & Jaworski Law
firm, Miranda Alliance Law firm, Burleson LLP, Adepetun Caxton – Martins, Agbor
& Segun and Detail oil and gas law firm.
Lance Crist, the global head of oil and
gas from International Finance Corporation (IFC) – World Bank Group will be
making a very important presentation on investment updates in Sub-Saharan
Africa, future outlooks and project capitalization.
gas from International Finance Corporation (IFC) – World Bank Group will be
making a very important presentation on investment updates in Sub-Saharan
Africa, future outlooks and project capitalization.
The conference has confirmed the
participation of petroleum ministers of Equatorial Guinea, Democratic Republic
of Congo, Gabon; Gambia and also expects the attendance of the hydrocarbon
minister of Republic of Congo – Brazzaville.
participation of petroleum ministers of Equatorial Guinea, Democratic Republic
of Congo, Gabon; Gambia and also expects the attendance of the hydrocarbon
minister of Republic of Congo – Brazzaville.
Apart from Sub-Saharan Africa nations
and petroleum ministries that will be in attendance, oil companies such as
Noble Energy, ADTI (Transocean), Exxon Mobil, Tullow Oil, ERHC Energy, Afren
Resources, BER Chartered Accounts, Pacific Atlantic Exploration Company (Vanco)
Sempra LNG, Bechtel and so many other companies will be represented in this
event.
and petroleum ministries that will be in attendance, oil companies such as
Noble Energy, ADTI (Transocean), Exxon Mobil, Tullow Oil, ERHC Energy, Afren
Resources, BER Chartered Accounts, Pacific Atlantic Exploration Company (Vanco)
Sempra LNG, Bechtel and so many other companies will be represented in this
event.
Culled
from the Sweetcrude Reports, Saturday,
November 24th, 2012.
from the Sweetcrude Reports, Saturday,
November 24th, 2012.
