Lagos, Nigeria
Nigerian reforms leave lingering doubts
Questions remain over some specifics of the recently passed Petroleum Industry Bill and whether the reforms will be enough to jumpstart the country’s stalled upstream
Nigeria’s long-awaited Petroleum Industry Bill (PIB) finally became law this summer in the form of the Petroleum Industry Act (PIA). The legislation introduces significant changes, but some uncertainty and doubts still persist. Nigeria’s existing regulator, the Department of Petroleum Resources, will be replaced by two, separate bodies: the Nigerian Upstream Regulatory Commission (Nurc) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). There are “concerns” over the “cost-benefit” of having two regulators, professional services firm KPMG says, although the NMDPRA might “help to focus attention on the midstream and downstream rather than the current situation,
Also in this section
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
