Nigeria’s petroleum corporation to be commercialized under new law

NIGERIA – The Nigerian National Petroleum Corporation (NNPC), the Nigerian agency mandated to regulate Nigeria’s oil and gas sector, will be commercialized if the new Petroleum Industry Bill (PIB), is passed by Nigerian Parliament. According to a statement by Minister of State for Petroleum Resources, Timipre Sylva, the Petroleum Industry Bill which was just submitted by President Muhammadu Buhari to the National Assembly seeks to commercialize the Nigerian National Petroleum Corporation (NNPC) rather than scrap it. Under the bill, a new entity by the name, Nigerian National Petroleum Company Limited…

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