{"id":237253,"date":"2012-12-08T23:53:00","date_gmt":"2012-12-08T23:53:00","guid":{"rendered":"http:\/\/www.ghanamma.net\/2012\/12\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/"},"modified":"2012-12-08T23:53:00","modified_gmt":"2012-12-08T23:53:00","slug":"without-strong-regulation-pib-will-fail-avuru-oil-chief","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2012\/12\/08\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/","title":{"rendered":"Without strong regulation, PIB will fail \u2013 Avuru, oil chief"},"content":{"rendered":"<div readability=\"61\">\n<p>By Lekan Bilesanmi<\/p>\n<p>Austin Avuru,MD\/CEO of SEPLAT Petroleum Development Company, says the oil industry needs \u201ca strong, independent regulator\u201d for the Petroleum Industry Bill (PIB) to work.<\/p>\n<p>He made the case at the 18th Nigerian Economic Summit, held in Abuja where he presented a paper entitled, \u201cThe PIB and the Future of Nigeria\u2019s Oil Industry.\u201d<\/p>\n<p>He noted, however, that controversy has dogged the reform process in the oil and gas sector because of a misalignment of priorities and reduction of the whole PIB process to \u201ca debate about fiscal provisions.\u201d<\/p>\n<p>Avuru, a Fellow of the National Association of Petroleum Explorationists (NAPE), told the gathering that the PIB is \u201cthe result of an elaborate institutional reform process for the oil &amp; gas sector, initiated in 2000.\u201d<\/p>\n<p>Avuru cited examples from successful reform efforts in the telecoms, power, aviation and maritime industries where he pointed out that reforms have worked largely due to strong regulators like \u201cthe NCC for telecoms and NERC for power as well as a focus on private sector as source of new investments.\u201d<\/p>\n<\/div>\n<p>Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n<p>View the original here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.vanguardngr.com\/2012\/12\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/\" title=\"Without strong regulation, PIB will fail \u2013 Avuru, oil chief\" rel=\"noopener noreferrer\">Without strong regulation, PIB will fail \u2013 Avuru, oil chief<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> By Lekan Bilesanmi Austin Avuru,MD\/CEO of SEPLAT Petroleum Development Company, says the oil industry needs \u201ca strong, independent regulator\u201d for the Petroleum Industry Bill (PIB) to work. He made the case at the 18th Nigerian Economic Summit, held in Abuja where he presented a paper entitled, \u201cThe PIB and the Future of Nigeria\u2019s Oil Industry.\u201d He noted, however, that controversy has dogged the reform process in the oil and gas sector because of a misalignment of priorities and reduction of the whole PIB process to \u201ca debate about fiscal provisions.\u201d Avuru, a Fellow of the National Association of Petroleum Explorationists (NAPE), told the gathering that the PIB is \u201cthe result of an elaborate institutional reform process for the oil &amp; gas sector, initiated in 2000.\u201d Avuru cited examples from successful reform efforts in the telecoms, power, aviation and maritime industries where he pointed out that reforms have worked largely due to strong regulators like \u201cthe NCC for telecoms and NERC for power as well as a focus on private sector as source of new investments.\u201d Comments are moderated<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-237253","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Without strong regulation, PIB will fail \u2013 Avuru, oil chief - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2012\/12\/08\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Without strong regulation, PIB will fail \u2013 Avuru, oil chief - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"By Lekan Bilesanmi Austin Avuru,MD\/CEO of SEPLAT Petroleum Development Company, says the oil industry needs \u201ca strong, independent regulator\u201d for the Petroleum Industry Bill (PIB) to work. He made the case at the 18th Nigerian Economic Summit, held in Abuja where he presented a paper entitled, \u201cThe PIB and the Future of Nigeria\u2019s Oil Industry.\u201d He noted, however, that controversy has dogged the reform process in the oil and gas sector because of a misalignment of priorities and reduction of the whole PIB process to \u201ca debate about fiscal provisions.\u201d Avuru, a Fellow of the National Association of Petroleum Explorationists (NAPE), told the gathering that the PIB is \u201cthe result of an elaborate institutional reform process for the oil &amp; gas sector, initiated in 2000.\u201d Avuru cited examples from successful reform efforts in the telecoms, power, aviation and maritime industries where he pointed out that reforms have worked largely due to strong regulators like \u201cthe NCC for telecoms and NERC for power as well as a focus on private sector as source of new investments.\u201d Comments are moderated\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/12\\\/08\\\/without-strong-regulation-pib-will-fail-avuru-oil-chief\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/12\\\/08\\\/without-strong-regulation-pib-will-fail-avuru-oil-chief\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Without strong regulation, PIB will fail \u2013 Avuru, oil chief\",\"datePublished\":\"2012-12-08T23:53:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/12\\\/08\\\/without-strong-regulation-pib-will-fail-avuru-oil-chief\\\/\"},\"wordCount\":208,\"commentCount\":0,\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/12\\\/08\\\/without-strong-regulation-pib-will-fail-avuru-oil-chief\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/12\\\/08\\\/without-strong-regulation-pib-will-fail-avuru-oil-chief\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/12\\\/08\\\/without-strong-regulation-pib-will-fail-avuru-oil-chief\\\/\",\"name\":\"Without strong regulation, PIB will fail \u2013 Avuru, oil chief - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/#website\"},\"datePublished\":\"2012-12-08T23:53:00+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/12\\\/08\\\/without-strong-regulation-pib-will-fail-avuru-oil-chief\\\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2012\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Without strong regulation, PIB will fail \u2013 Avuru, oil chief - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2012\/12\/08\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/","twitter_card":"summary_large_image","twitter_title":"Without strong regulation, PIB will fail \u2013 Avuru, oil chief - Ghanamma.com","twitter_description":"By Lekan Bilesanmi Austin Avuru,MD\/CEO of SEPLAT Petroleum Development Company, says the oil industry needs \u201ca strong, independent regulator\u201d for the Petroleum Industry Bill (PIB) to work. He made the case at the 18th Nigerian Economic Summit, held in Abuja where he presented a paper entitled, \u201cThe PIB and the Future of Nigeria\u2019s Oil Industry.\u201d He noted, however, that controversy has dogged the reform process in the oil and gas sector because of a misalignment of priorities and reduction of the whole PIB process to \u201ca debate about fiscal provisions.\u201d Avuru, a Fellow of the National Association of Petroleum Explorationists (NAPE), told the gathering that the PIB is \u201cthe result of an elaborate institutional reform process for the oil &amp; gas sector, initiated in 2000.\u201d Avuru cited examples from successful reform efforts in the telecoms, power, aviation and maritime industries where he pointed out that reforms have worked largely due to strong regulators like \u201cthe NCC for telecoms and NERC for power as well as a focus on private sector as source of new investments.\u201d Comments are moderated","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2012\/12\/08\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2012\/12\/08\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/"},"author":{"name":"","@id":""},"headline":"Without strong regulation, PIB will fail \u2013 Avuru, oil chief","datePublished":"2012-12-08T23:53:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2012\/12\/08\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/"},"wordCount":208,"commentCount":0,"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2012\/12\/08\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2012\/12\/08\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/","url":"https:\/\/www.ghanamma.com\/2012\/12\/08\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/","name":"Without strong regulation, PIB will fail \u2013 Avuru, oil chief - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2012\/#website"},"datePublished":"2012-12-08T23:53:00+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2012\/12\/08\/without-strong-regulation-pib-will-fail-avuru-oil-chief\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2012\/#website","url":"https:\/\/www.ghanamma.com\/2012\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2012\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2012\/wp-json\/wp\/v2\/posts\/237253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2012\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2012\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2012\/wp-json\/wp\/v2\/comments?post=237253"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2012\/wp-json\/wp\/v2\/posts\/237253\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2012\/wp-json\/wp\/v2\/media?parent=237253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2012\/wp-json\/wp\/v2\/categories?post=237253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2012\/wp-json\/wp\/v2\/tags?post=237253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}