PIB to be passed by mid 2020, Sylva says

The Minister of State for Petroleum Resources, Timipre Sylva on Wednesday said that the final passage of the Petroleum Industry Bill (PIB) will be achieved by the middle of 2020.

The minister, who added that the review of the bill is at an advanced stage, stated this in a statement to mark the new year, declaring that the 2019 was a busy and prosperous one for the Ministry of Petroleum and its agencies.

Enumerating the achievements, the minister said they included the Amendment of the Deep Offshore (and Inland Basin Production Sharing Contact) Act, and signing of Final Investment Decision on the Nigerian Liquefied Natural Gas (NLNG) Train 7 project.

Others, according to the former Bayelsa governor, were the discovery of crude oil in the Upper Benue Trough and the hosting of the Extraordinary Session of the Council of Ministers of the African Petroleum Producers Organisation and the emergence of Nigeria’s Dr Omar Ibrahim as its Secretary General.

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”We thank every Nigerian, all our key stakeholders, heads of agencies of the ministry: Nigerian National Petroleum Corporation, Department of Petroleum Resources, Petroleum Technology Development Fund and Nigerian Content Development and Monitoring Board.

“Petroleum Products Pricing Regulatory Agency, Petroleum Equalisation Fund (Management) Board, Nigerian Nuclear Regulatory Authority and the Petroleum Training Institute) and every member of staff, for all the support.

“We look forward to delivering on all our aspirations as we remain committed and focused in the New Year,” Sylva added.

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