Overview:

Summary

Nigeria’s proposed Petroleum Industry Bill is expected to revive the entire oil and gas industry in the country. Considering the importance of Nigeria in the global oil and gas industry and also the country’s crumbling oil and gas industry at the hands of militant activity, the bill has huge expectations attached with it. The PIB is expected to restructure the oil and gas industry in the country and provides incentives to the indigenous oil industry. On the other hand with higher taxes and royalties in the proposed bill the fiscal terms for the international oil companies have been made tougher. Whether the PIB will succeed in halting the domestic unrest and at the same time strengthen Nigeria’s position at the international market still remains to be seen. Nevertheless, on paper, the bill provides a platform for a steady growth of the Nigerian oil and gas industry.

Scope

• Coverage of the petroleum industry in Nigeria

• Analysis of policies and government initiatives and their effect on the petroleum industry in Nigeria

Reasons to buy

• Develop business strategies with the help of specific insights from GlobalData on the key events happening in the oil and gas industry.

• Gain a strong understanding of the energy market and analyze the major trends in the global oil and gas industry today

• Identify opportunities and challenges with the help of our analysis of the latest news and deals in the oil and gas industry

• Increase future revenue and profitability with the help of information on latest operational, financial, and regulatory events

1 Table of Contents

1.1 List of Figures

2 GlobalData Viewpoint

2.1 Summary

3 Nigeria’s New Petroleum Industry Bill: A Move to Revive the Domestic Oil and Gas Industry

3.1 The Ailing Oil and Gas Industry in Nigeria Necessitated the Need for Overall Policy Change

3.2 PIB Will Help to Restructure the Regulatory Framework and the Fiscal System of the Oil and Gas Industry

3.2.1 Restructuring of the Institutional and Regulatory Framework

3.2.2 The Proposed Change in the Fiscal System in Order to Increase the Government’s Revenue

3.3 The Bill Aims To Develop the Domestic Oil and Gas Industry by Increasing the Role of Domestic Producers

3.3.1 The Bill Provides Additional Incentives to the Domestic Oil and Gas Producers

3.3.2 PIB Addresses the Need to Increase the Local Participation in Country’s Oil and Gas Industry

3.3.3 PIB Tries to Give a Boost to the Natural Gas Industry in Nigeria

3.4 The Bill May Hamper International Oil Companies’ Investments in the Country

4 Recent Developments

4.1 Jul 30, 2009: Nigerian Oil-Producing States Reject Petroleum Industry Bill

4.2 Jul 28, 2009: Nigeria Loses $47 Billion Due To Shut-In Of SPDC Output

4.3 Jul 16, 2009: Nigeria's Crude Production Declines To 1.72 Million Bpd: IEA Reports

4.4 Jul 08, 2009: Nigeria Sabotage Cost 24,000 Bpd, Says Eni

4.5 Jul 03, 2009: Nigerian Senate Introduces Gas Flaring Bill 2009

4.6 Jun 29, 2009: Shell Shuts Estuary Oil Field In Nigeria After Attack From MAND

4.7 Jun 29, 2009: SPDC Shelves Operations In Western Niger Delta

4.8 Jun 17, 2009: OMEL, Total To Invest $150 Million In Oil Exploration In Nigeria

4.9 Jun 01, 2009: Nigeria To Boost Domestic Gas Supply By 2013

4.10 May 25, 2009: Chevron Shuts 100 B/D Of Oil Production In Nigeria

4.11 May 19, 2009: Nigeria Reports Oil Output Of 1.6 Million Bpd Before Niger Delta Unrest

5 Appendix

5.1 Methodology

5.1.1 Coverage

5.1.2 Secondary Research

5.1.3 Primary Research

5.1.4 Expert Panel Validation

5.2 Contact Us

5.3 About GlobalData

5.4 Disclaimer

1.1 List of Figures

Figure 1: Nigeria, Crude Oil Exports by Region (Million Barrels), 2008

Figure 2: Nigeria, Institutional and Regulatory Framework Under the PIB

Figure 3: GlobalData Methodology