Petroleum Industry Act (PIA) – Shipping World News Magazine

Oct232025 by adminNo Comments

Minister hails Komolafe, says NUPRC’s achievements at 4 are like a 50-year-old institution

News Feature

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has commended the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, for outstanding leadership and effective delivery of his mandate as the Commission marks its fourth anniversary. Senator Heineken said this when Engineer Komolafe led a delegation of top management of the Commission to the minister’s office on the sideliines of the NUPRC’s anniversary on October 21, 2025. The Minister lauded the CCE for changing the narrative in upstream activities by restoring confidence in line with the Petroleum Industry Act (PIA), 2021, which he said is evident in the rising rig count. Lokpobiri said, “Let me take the opportunity to congratulate you (Komolafe) and m...

Bayelsa Seeks Stake In Brass Fertiliser, Petrochemical Projects

News Feature

Bayelsa State government has solicited for equity stake in the Brass Fertiliser and Petrochemical Company project about to commence on the Brass Island in the state. Governor Douye Diri made the request on Tuesday when the management team of the company paid him a courtesy visit in Government House, Yenagoa. The Bayelsa governor said the state’s position became necessary due to the negative fallouts in excluding oil producing states and local governments from the Petroleum Industry Act (PIA). Senator Diri in a statement by his Chief Press Secretary, Mr. Daniel Alabrah, contended that implementation of the PIA had been hampered in host communities due to the anomaly in the legislation. He noted that the disregard in the PIA of the Nigerian Constitution, which vests control of land ...

PIA, A Time Bomb, Says Gov Diri *Seeks Review Of Act

News Feature

Bayelsa State Governor, Senator Douye Diri, has advocated an amendment of the Petroleum Industry Act (PIA) in order to address the flaws in the legislation. Governor Diri also said the review would go a long way in tackling the ongoing crisis between oil companies and their host communities. Describing the Act as a time bomb, the governor emphasised that since the country operates a federal system of government, it was an aberration for the federal government to deal directly with oil producing communities while excluding the states and local governments. Senator Diri stated this on Tuesday when the new Commander of the Joint Military Task Force, Operation Delta Safe (OPDS), Rear Admiral Eugenio Ferreira, and other officers paid him a courtesy visit in Government House, Yenagoa. ...