Petroleum Africa
Find us on: 
Wednesday, July 6, 2005
The long awaited for Nigerian National Oil and Gas Policy has been approved by the government. The policy, which has been in the works since the year 2000, covers all aspects of the oil and gas industry from upstream to downstream distribution in the country. According to the Bureau of Public Enterprises (BPE) the policy now makes it mandatory that a Minister of Petroleum Resources be appointed.
The policy is the product of a five-year effort by the Oil and Gas Sector Reform Implementation Committee (OGIC) inaugurated in April 2000 by the Chairman of National Council on Privatization (NCP), Vice President Atiku Abubakar, to produce a policy that would stand the test of time and ensure the highest benefits for Nigeria.
The policy also provides for a review of operating agreements, contracts, and memorandums of understanding governing the operations of the upstream oil and gas sector with a view to ensuring that oil and gas business gains to the nation are maximized.
The policy also makes recommendations for upgrading local content and indigenous participation in the oil and gas reform.
"Issues of health and safety and environmental responsibilities of all stakeholders in the oil and gas industry as well as community issues were highlighted in the proposed policy. Some important recommendations were made in the policy to ensure a mutually beneficial relationship among the host communities, the oil and gas operators, and the government," a press release said.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
