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Minister of State for Petroleum Resources, Chief Timipre Sylva, says the review of the Petroleum Industry Bill (PIB) is at advanced stage and full passage expected mid 2020.
Sylva made the announcement in a New Year statement, yesterday, reviewing the performance of the petroleum ministry.
He described 2019 as a busy and prosperous year for the ministry and its agencies.
Sylva listed the ministry’s achievements to include the amendment of the Deep Offshore (and Inland Basin Production Sharing Contact) Act, and signing of Final Investment Decision (FID) on the Nigerian Liquefied Natural Gas (NLNG) Train 7 project.
Others included the discovery of crude oil in the Upper Benue Trough, 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
“We thank Nigerians, our key stakeholders, heads of agencies, NNPC, Department of Petroleum Resources, Petroleum Technology Development Fund, Nigerian Content Development and Monitoring Board, Petroleum Products Pricing Regulatory Agency, Petroleum Equalisation Fund, Nigerian Nuclear Regulatory Authority and Petroleum Training Institute for all the support We look forward to delivering on all our aspirations as we remain committed and focused in the New Year,” Sylva said.
