Relevant bibliographies by topics / Petroleum Industry Bill (PIB)

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  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Conference papers

Academic literature on the topic 'Petroleum Industry Bill (PIB)'

Author: Grafiati
Published: 4 June 2021
Last updated: 16 February 2022

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Journal articles on the topic "Petroleum Industry Bill (PIB)"

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Amadi, Azubuike Hope, Victor D. Ola, and John O. Ayoola. "Review of Nigeria’s Petroleum Industry Bill (PIB)." European Journal of Engineering Research and Science 5, no. 9 (September 11, 2020): 1081–84. http://dx.doi.org/10.24018/ejers.2020.5.9.2109.

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Since the discovery of Crude Oil in 1875, the Petroleum Industry has gradually improved in value due to the series of valuable products gotten from crude oil. The significant impact of crude oil as a source of energy has made exportation and importation of this mineral a lucrative business around the world, having turned to be the major source of revenue for most producing countries. Crude oil has contributed to about 80% of Nigerian Government revenue and foreign exchange since 1958, making it a key player in the economic plan of the country. Its importance in Nigeria has made the Legislature introduce lots of policies and laws governing the Oil and Gas business in the country. However, Nigerians with different views over the years have clamored for an improvement of these policies to enable the benefits of Her resources fairly get to the grassroots, producing communities and states while improving foreign investment policies in the country. These demands led to the introduction of the Petroleum Industry Bill (PIB) in the year 2000. This research work attempts to review and offer recommendations for improvements to avoid future litigations, violence, conflicts, and industry fragility. This work will also elaborate on different steps taken by the Nigerian Government over the years to implement this bill, challenges faced by the Government and International Oil Companies (IOCs), Government and its citizens, and anomalies seen in the bill up till status quo.
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Pérouse de Montclos, Marc-Antoine. "The politics and crisis of the Petroleum Industry Bill in Nigeria." Journal of Modern African Studies 52, no. 3 (August 18, 2014): 403–24. http://dx.doi.org/10.1017/s0022278x1400024x.

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ABSTRACTThe Nigerian Petroleum Industry Bill (PIB), which is currently being discussed in Parliament, aims at reforming the oil industry. But it also reveals the guiding forces of local politics. The PIB exposes the limitations of the state's ambitions, desire and capacity for reform, and it is strong evidence for the regional divisions and social tensions catalysing resistance against the government of President Goodluck Jonathan, which is accused of ethnic bias in favour of the oil-producing areas of the Niger Delta.
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Ola, Victor D., Azubuike H. Amadi, Raphael Okeke, and Paul O. Okafor. "Comparative Analysis of Nigeria and Malaysia’s Production Sharing Contract (PSC)." European Journal of Business and Management Research 6, no. 1 (January 7, 2021): 11–17. http://dx.doi.org/10.24018/ejbmr.2021.6.1.678.

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The oil and gas industry is governed by policies with the aim of smoothening the business relationship between the Government, the International Oil Companies (IOC’s) and the Host communities. Different oil producing countries have their own laws governing petroleum activities and these laws vary from country to country based on the B-PEST factors which are Biological, Political, Environmental, Social and Technology. However, reserve size and oil type can also influence petroleum laws. Countries like Nigeria relies strongly on petroleum bills such as the PIB in which this research will be analyzing the Production Sharing Contract (PSC) which is a significant subset of the PIB. Comparison between the existing PSC of Malaysia and that of Nigeria was captured in this research and the analysis of the PSC was done based on the Government Take, National Oil Company (NOC) and the Contractor’s benefits. 26.67% and 56.58% recovery cost, 28.67% and 26.28% Government revenue, 23.14% and 7.64% NOC share, 21.52% and 9.50% Contractor share of revenue per barrel was arrived at for Malaysia and Nigeria respectively, showing that the Malaysian PSC model yields more income to the country when compared to that of Nigeria without necessarily short-changing the contractors or the IOCs. Finally, the reasons behind these deficits were highlighted and recommendations made to improve the PSC and benefits for all parties to the contractual agreements.
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Ichima, Egor. "Petroleum Industry Bill in Fostering Nigerian Oil and Gas Business." Journal of Advanced Research in Dynamical and Control Systems 12, SP4 (March 31, 2020): 440–45. http://dx.doi.org/10.5373/jardcs/v12sp4/20201508.

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Barrymore, S. "PETROLEUM (SUBMERGED LANDS) ACT 1967—REWRITE AND BEYOND." APPEA Journal 46, no. 1 (2006): 533. http://dx.doi.org/10.1071/aj05033.

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In 2005 the Australian Government introduced into Parliament the long awaited Offshore Petroleum Bill (Bill). Often referred to as the rewrite of the Petroleum (Submerged Lands) Act 1967 (Act), the Bill essentially is a redraft of the Act in a bid to improve readability and clarity. A number of policy changes have been made, albeit most are minor.The public consultation process undertaken as part of the rewrite of the Act saw a number of other issues raised. As these were beyond the ambit of the rewrite—that is, to improve readability and clarity of the Act—these issues were temporarily parked until the completion of the rewrite process.Government will now proceed with a process of review and consultation with industry on these parked issues. In a number of areas divergent views of Government and industry can be expected.It is not clear the extent to which industry in general and APPEA in particular and its members will actively support the review process or whether inertia will prevail, without substantive progress. Reform has the potential to significantly change and enhance the offshore regime from what it is today. While it is early days, questions remain as to whether the process will produce significant changes in an acceptable timeframe.
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MacKnight, Robin J. "Recent Developments in Federal Taxation of Interest to the Resource Industries." Alberta Law Review 24, no. 1 (April 1, 1985): 115. http://dx.doi.org/10.29173/alr733.

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This paper considers certain aspects of the proposed legislative changes to the Income Tax Act (Canada) and the Petroleum and Gas Revenue Tax Cut set out in the January 30, 1985 and May 9, 1985 Notices of Ways and Means Motions, the Western Accord and the federal budget of May 23, 1985 which may be of interest to advisers to the oil and gas industry. Certain of these changes have been incorporated in Bill C-72, which was passed October 29, 1985, and draft amendments to the Petroleum and Gas Revenue Tax Act released September 16, 1985.
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Okoye, Adaeze. "Novel linkages for development: corporate social responsibility, law and governance: exploring the Nigerian Petroleum Industry Bill." Corporate Governance: The international journal of business in society 12, no. 4 (August 3, 2012): 460–71. http://dx.doi.org/10.1108/14720701211267801.

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Amodu, Nojeem. "Sustainable Development and Corporate Social Responsibility under the 2018 Petroleum Host and Impacted Communities Development Trust Bill: Is Nigeria Rehashing Past Mistakes?" African Journal of Legal Studies 11, no. 4 (December 10, 2019): 319–51. http://dx.doi.org/10.1163/17087384-12340038.

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AbstractThe 2018 Petroleum Host and Impacted Communities Development Trust Bill before the Nigerian National Assembly was proposed to foster sustainable development (SD) and embed corporate social responsibility (CSR) in the oil and gas corporate activities within host communities. From the backdrop of SD and CSR as regulatory concepts, this article scrutinizes the Bill for its viability to realize its objectives in its current form. It raises concerns about: (i) perceived negligence by the government to provide social services and public goods, seeming to outsource such responsibilities to the business community; (ii) the reduction of CSR to capital or community development projects; and (iii) the absence of useful delimitation criteria to determine host and impacted communities. The article argues that past mistakes are being rehashed and queries the capacity of the Bill to live up to stakeholders’ expectations. Using the normative contributions of global templates such as the United Nations Guiding Principles on Business and Human Rights, the article recommends policy and regulatory changes to the Bill’s governance structure towards embedding effective CSR and engendering SD in the Nigerian oil and gas industry.
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Waters, Graeme. "Offshore petroleum regulatory reform: the WA experience—first 12 months in review." APPEA Journal 53, no. 2 (2013): 435. http://dx.doi.org/10.1071/aj12046.

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On 1 January 2012, a new regulatory framework for the offshore oil and gas industry in Australian Commonwealth waters started. The changes were profound and brought about a single national regulator for safety, environmental management, and well integrity. It also meant that the seven former designated authorities were abolished in favour of a single National Titles Administrator. In the lead up to the reforms, ministers Martin Ferguson and Frederick Moore agreed that officials from their respective departments would implement cooperative working arrangements for the WA adjacent offshore area, to facilitate and ensure a smooth transition for the industry and help achieve the recommendations of the Productivity Commission's review. The authors of this extended abstract reflect on and share the experiences of the past 12 months. An update of the authors' respective agencies' progress beyond the transition phase is also discussed. This extended abstract also outlines projects of interest and how they will benefit the industry and continue to develop the foundations of the cooperative working arrangements between NOPTA and WA-DMP. During the changes and transition program, industry and regulators have strived to engage in the new regime, and the results have been positive. Now is the opportunity for us to come together, ask questions, share information, and examine what has worked and what is yet to come. Several aspects of the arrangements are now evident: the establishment of the National Core Store and Data Repository, the establishment of the National Electronic Approvals and Tracking System (NEATS), and the day-to-day interactions between NOPTA and WA-DMP. The WA-DMP speaker reviews Joint Authority operations for the WA adjacent area since the establishment of NOPTA and NOPSEMA. Bill Tinapple also reviews regulatory framework developments for WA; in particular, changes to provide for shale and tight gas and oil activity, as well as, public engagement to increase confidence in regulatory processes. Coordination of regulatory processes across jurisdictional boundaries are reviewed, including case studies for Gorgon, Wheatstone, and Macedon.
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Tinapple, Bill. "Offshore petroleum regulatory reform: the Western Australian experience—first 12 months in review." APPEA Journal 53, no. 2 (2013): 436. http://dx.doi.org/10.1071/aj12047.

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On 1 January 2012, a new regulatory framework for the offshore oil and gas industry in Australian Commonwealth waters started. The changes were profound and brought about a single national regulator for safety, environmental management, and well integrity. It also meant that the seven former designated authorities were abolished in favour of a single National Titles Administrator. In the lead up to the reforms, ministers Martin Ferguson and Frederick Moore agreed that officials from their respective departments would implement cooperative working arrangements for the WA adjacent offshore area, to facilitate and ensure a smooth transition for the industry and help achieve the recommendations of the Productivity Commission's review. The authors of this extended abstract reflect on and share the experiences of the past 12 months. An update of the authors' respective agencies' progress beyond the transition phase is also discussed. This extended abstract also outlines projects of interest and how they will benefit the industry and continue to develop the foundations of the cooperative working arrangements between NOPTA and WA-DMP. During the changes and transition program, industry and regulators have strived to engage in the new regime, and the results have been positive. Now is the opportunity for us to come together, ask questions, share information, and examine what has worked and what is yet to come. Several aspects of the arrangements are now evident: the establishment of the National Core Store and Data Repository, the establishment of the National Electronic Approvals and Tracking System (NEATS), and the day-to-day interactions between NOPTA and WA-DMP. The WA-DMP speaker reviews Joint Authority operations for the WA adjacent area since the establishment of NOPTA and NOPSEMA. Bill Tinapple also reviews regulatory framework developments for WA; in particular, changes to provide for shale and tight gas and oil activity, as well as, public engagement to increase confidence in regulatory processes. Coordination of regulatory processes across jurisdictional boundaries are reviewed, including case studies for Gorgon, Wheatstone, and Macedon.
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Dissertations / Theses on the topic "Petroleum Industry Bill (PIB)"

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Hugnes, Erik. "«En Casestudie av Nigerias forvaltning av petroleumssektoren» : En analyse av Petroleum Industry Bill 2012: Den norske oljemodellen i praksis." Thesis, Norges teknisk-naturvitenskapelige universitet, Institutt for sosiologi og statsvitenskap, 2014. http://urn.kb.se/resolve?urn=urn:nbn:no:ntnu:diva-26974.

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Hovedpoenget med denne masteroppgaven har vært å ta del i et forskningsprosjekt som har som hovedformål å skape en kunnskapsbase om den norske oljemodellen. I denne oppgaven har jeg undersøkt hvordan Nigerias petroleumssektor har lidd under utstrakt korrupsjon og undersøkt hvordan de foreslåtte institusjonelle endringene gjennom Petroleum Industry Bill (PIB) søker å takle dette problemet gjennom en omstrukturering av landets petroleumssektor etter mal av den norske oljemodellen. Hovedformålet er å forbedre landets petroleumssektor for å øke gjennomsiktigheten og ansvarligheten i sektoren. Gjennom anvendelse av tredelingsmodellen så ønsker nigerianske myndigheter å øke investeringene i sektoren og sikre den økonomiske veksten for hele det nigerianske samfunnet. I denne konteksten har jeg valgt å plassere oppgavens teoretiske rammeverk, nemlig Shleifer og Vishny’s (2002) grabbing hand of corruption – korrupsjonens griske hånd. For hvis vi antar at alle politikere og offentlige ansatte er drevet etter selvberikelse så vil korrupsjonsproblemet gjennomsyre samfunnet og føre til lavere økonomisk vekst og dårligere investeringsklima. Innføringen av tredelingsmodellen forutsetter et visst institusjonelt nivå og man unngår en rekke interessekonflikter og sørger for økt transparens og ansvarlighet i sektoren. I kombinasjon med ulike anti-korrupsjonsprogrammer så vil dette kunne føre til at en større andel av inntektene som petroleumssektoren genererer finner veien til de føderale investeringsfondene.
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2

Ellis, Maryke Louise. "Potential impact of the Mineral and Petroleum Resources Development Amendment Bill on investment in South Africa's upstream oil and gas industry." Master's thesis, University of Cape Town, 2015. http://hdl.handle.net/11427/15747.

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The Mineral and Petroleum Resources Development Amendment Bill has drawn criticism from industry experts and the press. There are a number of amendments that could be damaging to future investment in South Africa's upstream oil and gas industry. This study examines the key changes brought about by the Bill, South Africa's fiscal terms, how the fiscal terms are impacted by the Bill and current activity in South Africa's upstream oil and gas sector. The report then focuses on the most significant change made by the Bill, which is the level of State Participation. A fit for purpose economic model was built and the resulting cash flows were used to calculate the economic indicators presented in the results. The results from the model indicate how the increase in State Participation levels affects the ranking of South Africa's fiscal terms and the profitability of hypothetical investment opportunities. When ranked on fiscal terms, the country moves from having some of the best terms in Africa without the new Bill, to a position where the fiscal terms can be described as average or even onerous, depending on the interpretation of the State Participation clause. Accordingly, the result of the hypothetical investment opportunity has very positive economic indicators without the changes from the new Bill. If the most optimistic interpretation of the State Participation clause is modelled, the opportunity is less attractive but still viable and if the most pessimistic interpretation is modelled, the opportunity would not warrant investment. Even though South Africa has limited reserves, significant exploration activity is taking place under the existing legal and fiscal framework. If the Bill is implemented in its current format, it is likely that the country will see a significant decline in investment in the upstream oil and gas industry. Attracting new investment by international oil and gas companies in an environment governed by the terms of the proposed Bill will be challenging.
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"The Role of Taxation in Nigeria's Oil and Gas Sector Reforms - Learning from the Canadian Experience." Thesis, 2015. http://hdl.handle.net/10388/ETD-2015-11-2282.

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Several stakeholders in Nigeria’s oil and gas industry have emphasized the need for petroleum sector reforms in Nigeria. Canada is reputed to have one of the best oil and gas tax regimes in the world. This thesis argues that certain tax measures in Canada’s oil and gas industry have considerable potential for addressing certain industry inefficiencies in Nigeria’s petroleum sector. In developing this argument, this thesis gives an overview of oil and gas taxation in both jurisdictions and examines the possibility of transferring laws between Nigeria and Canada by exploring legal and tax comparative law theories. The thesis also examines the major challenges in Nigeria’s oil and gas industry and identifies viable areas in Canada’s oil and gas tax system which have the potential to address these challenges. Given the peculiarities of oil and gas taxation in each jurisdiction, this thesis suggests that the selected Canadian fiscal and administrative measures may require certain modifications in order to make these measures more suitable for Nigeria’s legal and tax system.
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Books on the topic "Petroleum Industry Bill (PIB)"

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Petroleum industry bill, May 2008. Abuja, Nigeria: Oil and Gas Sector Reforms implementation Committee, 2008.

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Civil Society Legislative Advocacy Centre (CISLAC). Policy brief on the Petroleum Industry Bill. Abuja, Nigeria: Civil Society Legislative Advocacy Centre, 2010.

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Bill Clements: Texian to his toenails. Austin, Tex: Eakin Press, 1996.

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Nigeria. National Assembly. Senate. Committee on Petroleum Resources Upstream. Report on the bill for an act to provide for the development of Nigerian content in the Nigerian oil and gas industry; for Nigerian content plan; for supervision, coordination, monitoring and implementation of Nigeria content and for matters incidental thereto. Abuja?: The Senate?, 2007.

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Civil Society Legislative Advocacy Centre (CISLAC). The petroleum industry bill: Issues of concern to communities and civel society, may 2011, joint position paper. Nigria: Civil Society Legislative Advocacy Centre (CISLAC), 2010.

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Livey, Jay. The effect of state income tax policy on the development of marginal oil fields: An analysis of the impact of House Bill 353. [Juneau]: House Research Agency, Alaska State Legislature, 1986.

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C-85, Canada Parliament House of Commons Legislative Committee on Bill. Minutes of proceedings and evidence of the Legislative Committee on Bill C-85, an act to amend the Petroleum Incentives Program Act =: Procès-verbaux et témoignages du Comité législatif sur le Projet de loi C-85, Loi modifiant la Loi sur le programme d'encouragement du secteur pétrolier. Ottawa: Queen's Printer for Canada, 1986.

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United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Energy Regulation and Conservation. National oil security policy: Hearing before the Subcommittee on Energy Regulation and Conservation of the Committee on Energy and Natural Resources, United States Senate, One hundredth Congress, first session, on the implications of S. 694, a bill to provide a comprehensive national oil security policy, June 2, 1987. Washington: U.S. G.P.O., 1987.

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United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Energy Regulation and Conservation. Natural oil security policy: Hearing before the Subcommittee on Energy Regulation and Conservation of the Committee on Energy and Natural Resources, United States Senate, One hundredth Congress, first session, on the implications of S. 694, a bill to provide a comprehensive national oil security policy, June 2, 1987. Washington: U.S. G.P.O., 1987.

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C-94, Canada Parliament House of Commons Legislative Committee on Bill C.-92 and Bill. Minutes of proceedings and evidence of the Legislative Committee on Bill C-92, an act to regulate interests in petroleum in relation to frontier lands, to amend the Oil and Gas Production and Conservation Act and to repeal the Canada Oil and Gas Act: Bill C-94, an act to implement an agreement between the Government of Canada and the Government of Newfoundland and Labrador on offshore petroleum resource management and revenue sharing and to make related and consequential amendments = Procès-verbaux et témoignages du Comité législatif sur le Projet de loi C-92, Loi visant la réglementation des titres pétroliers et gaziers sur les terres domaniales, modifiant la Loi sur le pétrole et du gaz et abrogeant la Loi sur le pétrole et le gaz du Canada; Projet de loi C-94, Loi concernant la mise en oeuvre de l'accord entre les gouvernements du Canada et de Terre-Neuve et du entre les gouvernements du Canada et de Terre-Neuve et du Labrador sur la gestion des ressources en hydrocarbures extracôtiers et sur le partage des recettes correspondantes et apportant des modifications corrélatives ou connexes. --. Ottawa [Ont.]: Published under authority of the Speaker of the House of Commons by Queen's Printer for Canada, 1986.

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Conference papers on the topic "Petroleum Industry Bill (PIB)"

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Onuoha, K. Mosto, and Chidozie I. Dim. "Prospects and Challenges of Developing Unconventional Petroleum Resources in the Anambra Inland Basin of Nigeria." In SPE/AAPG Africa Energy and Technology Conference. SPE, 2016. http://dx.doi.org/10.2118/afrc-2571791-ms.

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ABSTRACT The boom in the development of unconventional petroleum resources, particularly shale gas in the United States of America during the last decade has had far reaching implications for energy markets across the world and particularly for Nigeria, a country that traditionally has been Africa’s leading crude oil producer and exporter. The Cretaceous Anambra Basin is currently the only inland basin in Nigeria where the existence of commercial quantities of oil and gas has been proven (outside the Tertiary Niger Delta Basin). The possibility of similarly finding commercially viable resources of unconventional petroleum resources in the basin appears quite attractive on the basis of the existence of seepages of shale oil and presence of coal-bed methane in some of the coal seams of the Mamu Formation (Lower Coal Measures) in the basin. This paper presents the results of our preliminary assessment of the shale oil and gas resources of the Anambra Basin. Our main objective is to locate the zones of very high quality plays within the basin, focusing on their depositional environments (whether marine or non-marine), areal extent of the target shale formations, gross shale intervals, total organic content, and thermal maturity. Data on the total organic content (TOC %, by weight) and thermal maturity of shales from different wells in the basin show that many of the shales have high TOCs (i.e greater than 2%) comparable to known shale gas and shale oil plays globally. Shale oil seepages are known to occur around Lokpanta in south-eastern Nigeria, but there is a general predominance of gas-prone facies in our inland basins indicating good prospects for finding unconventional petroleum in this and other Nigerian inland sedimentary basins. The main challenge to the exploration of unconventional resources in Nigeria today has to do with the absence of the enabling laws and regulatory framework governing their exploration and subsequent exploitation. The revised Petroleum Industry Bill (PIB) currently under consideration in the National Assembly is expected to introduce drastic and lasting changes in the way the petroleum industry business is conducted in the country, but all the provisions of the draft law pertain mainly to conventional oil and gas resources.
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Nyoor, Bariture, Adeogun Oyebimpe, and Omowumi O. Iledare. "The Impact of the Proposed Petroleum Industry Fiscal Bill PIFB, 2018 Tax Scheme on the Economics of Oil Production in Nigeria." In SPE Nigeria Annual International Conference and Exhibition. Society of Petroleum Engineers, 2019. http://dx.doi.org/10.2118/198782-ms.

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Oyekunle, A. A. "Impact of the Petroleum Industry Bill on Deepwater Economics." In Nigeria Annual International Conference and Exhibition. Society of Petroleum Engineers, 2011. http://dx.doi.org/10.2118/150774-ms.

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Nwosi-Anele, Adaobi Stephenie, Omowunmi Illedare, and Oyebimpe Adeogun. "Implications of Petroleum Industry Fiscal Bill 2018 on Heavy Oil Field Economics." In SPE Nigeria Annual International Conference and Exhibition. Society of Petroleum Engineers, 2020. http://dx.doi.org/10.2118/203740-ms.

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Nwosi-Anele, Adaobi Stephenie, Oyebimpe Adeogun, and Omowunmi Iledare. "Analysis of Government and Contractor Take Statistics in the Proposed Petroleum Industry Fiscal Bill." In SPE Nigeria Annual International Conference and Exhibition. Society of Petroleum Engineers, 2018. http://dx.doi.org/10.2118/193470-ms.

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Iledare, Omowumi O. "Evaluating the Impact of Fiscal Provisions in the Draft Petroleum Industry Bill on Offshore E&P Economics and Take Statistics in Nigeria." In Nigeria Annual International Conference and Exhibition. Society of Petroleum Engineers, 2010. http://dx.doi.org/10.2118/136972-ms.

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Li, Huimin. "Africa Petroleum Fiscal Evolvement and Impacts on Foreign Investment: Illustrations from Nigeria." In SPE/AAPG Africa Energy and Technology Conference. SPE, 2016. http://dx.doi.org/10.2118/afrc-2567973-ms.

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ABSTRACT With plenty of latest discoveries witnessed from East Africa, the petroleum atlas reshaping is expected where some new faces (e.g. Mozambique, Kenya, Tanzania, etc.) may play emergent roles besides traditional oil countries in Africa. Due to general lack of infrastructure construction and capital investment, it still need some time for large-scale commercial production and the involvement of international oil companies is indispensable in the process. Dramatic price drop has tremendously stricken both governments and international oil companies (IOC) in oil-producing countries since 2014. The effectiveness in which governments and IOCs adjust to this reality will determine the extent and the pace of future development of these countries’ oil sectors. Most IOCs were struggling to cut capital expenditure and control operating cost to survive, and how to maintain and attract investment is regarded as huge challenges by many governments in the downward scenario. Apart from resource factors, petroleum fiscal terms are one of the key factors in the investment decision for IOCs. The attractiveness of fiscal contracts has a fundamental effect on profitability of petroleum projects, and thus an important indicator for evaluating investment feasibility in the country. The paper gives an overview on fiscal transformation in most Africa oil countries, some of them were trying to increase government share in oil profits to support social expenditures, and others have provided fiscal incentives to absorb further investment in the oil sector. It shows that fiscal policies in the countries where national economy relies more on oil revenues are less stable during the past decade. Some upstream projects in Nigeria are illustrated to show the impacts of different contract terms on economic benefits. Thus with new government's coming into power, most IOCs are holding back further investment and expecting negotiation with the authorities for confirmation on fiscal terms applied in their assets to avoid potential contractual risks, like PIB, Side letter, etc. The implications regarding petroleum regime are summarized based on the experience from Nigeria for emerging countries in East Africa, relatively stable fiscal policy with some incentives to encourage exploration activities would be helpful to petroleum industry. Lastly, investment suggestions are presented with priorities to promote business development in the area.
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