Section 8 Petroleum Industry Act 2021 Section 8 Petroleum Industry Act 2021 is about Commercial regulatory functions of the Commission. It is under Part III (The Commission) of Chapter 1 (Governance and Institutions) of the Act. The commercial regulatory functions of the Commission shall be to-(a) review and approve the commercial aspects of field development…

Section 7 Petroleum Industry Act 2021 Section 7 Petroleum Industry Act 2021 is about Technical regulatory functions of the Commission. It is under Part III (The Commission) of Chapter 1 (Governance and Institutions) of the Act. The technical regulatory functions of the Commission include to——(a) enforce, administer and implement laws, regulations and policies relating to…

Section 6 Petroleum Industry Act 2021 Section 6 Petroleum Industry Act 2021 is about Objectives of the Commission. It is under Part III (The Commission) of Chapter 1 (Governance and Institutions) of the Act. The objectives of the Commission shall be to——(a) regulate upstream petroleum operations including technical, operational and commercial activities;(b) ensure compliance with…

Section 5 Petroleum Industry Act 2021 Section 5 Petroleum Industry Act 2021 is about Application of this Part. It is under Part III (The Commission) of Chapter 1 (Governance and Institutions) of the Act. The objects and functions of the Commission in this Part are limited to upstream petroleum operations.

Section 4 Petroleum Industry Act 2021 Section 4 Petroleum Industry Act 2021 is about Establishment of the Nigerian Upstream Regulatory Commission. It is under Part III (The Commission) of Chapter 1 (Governance and Institutions) of the Act. (1) There is established the Nigerian Upstream Petroleum Regulatory Commission (in this Act referred to as “the Commission”)…

Section 3 Petroleum Industry Act Section 3 Petroleum Industry Act 2021 is about Powers of the Minister. It is under Part II (Minister of Petroleum) of Chapter 1 (Governance and Institutions) of the Act. (1)—–The Minister shall-(a) formulate, monitor and administer government policy in the petroleum industry;(b) exercise general supervision over the affairs and operations…

Section 2 Petroleum Industry Act 2021 Section 2 Petroleum Industry Act 2021 is about Objectives. It is under Part I (Vesting and Objectives) of Chapter 1 (Governance and Institutions) of the Act. The objectives of this Chapter are to–(a) create efficient and effective governing institutions, with clear and separate roles for the petroleum industry; (b)…

Section 1 Petroleum Industry Act 2021 Section 1 Petroleum Industry Act 2021 is about Vesting of Petroleum. It is under Part I (Vesting and Objectives) of Chapter 1 (Governance and Institutions) of the Act. The property and ownership of petroleum within Nigeria and its territorial waters, continental shelf and exclusive economic zone is vested in…