Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » PIB will engage host communities in oil, gas security – Allison-Madueke

    PIB will engage host communities in oil, gas security – Allison-Madueke

    December 5, 2012
    Share
    Facebook Twitter LinkedIn WhatsApp

    05 December 2012, Sweetcrude, Abuja – Minister of Petroleum Resources, Mrs Diezeani Allison-Madueke, said in Abuja on Tuesday that the proposed Petroleum Industry Bill (PIB) will encourage host communities to protect oil and gas infrastructure in their area.

    Speaking at the 18th Nigeria Economic Summit during a panel discussion on the “PIB and the Future of Nigeria’s Oil Industry, the minister said: “We have created a mechanism to formally recognise host communities as important stakeholders by assigning oil and gas infrastructure security to the communities.’’

    This, she said, would minimise environmental degradation due to vandalism and crude oil theft.

    “As a Freedom to Operate tool, it incorporates penalties to host communities in the event of vandalism in their localities.

    “The legislation also includes modalities for using regulation to increase the flexibility in the management of host communities issues,” she said.

    The minister also said that the PIB when passed into law would increase participation of new players in oil and gas industry through the proposed new acreage management system.

    “This involves the release of acreage that have been held without activity due to one constrain or another.’’

    The minister ruled out opinions being expressed in some quarters that the country’s fiscal regime was responsible for the low exploration activities within the sector.

    “We believe that it is more due to the lack of open acreage and limited funding in the joint ventures that has actually limited new exploration activities,’’ she said.

    Related News

    Amakpe Refinery Chairman sues financial firm, denies $1.46m debt claim

    Nigeria commits $50m to Wholesale Impact Investment Fund

    ‘Nigeria’s $5bn oil-backed loan from Aramco delayed by oil price drop’

    E-book
    Resilience Exhibition

    Latest News

    Amakpe Refinery Chairman sues financial firm, denies $1.46m debt claim

    June 10, 2025

    Recovered funds boost student loans, credit access for civil servants – EFCC

    June 10, 2025

    Nigeria commits $50m to Wholesale Impact Investment Fund

    June 10, 2025

    OPEC head says oil demand will keep growing

    June 10, 2025

    ‘Shell’s decision on Phase 2 of LNG Canada will depend on other opportunities’

    June 10, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.