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Shell, Chevron, Mobil, Others Picked Holes In Oil Reform Bill, Says Gbajabiamiala

The Speaker of the House of Representatives, Femi Gbajabiamila, has said that the Oil Producers Trade Section of the Lagos Chamber of Commerce and Industry told him that the oil  reform bill in its current form “doesn’t provide the environment for future investments.”

The trade section comprises Shell, Chevron, Mobil, Oando and other major oil producers in the country.

Gbajabiamila said the group took issue with a variety of provisions, including sections on royalties, tax, how to handle state oil company NNPC’s outstanding liabilities and the segregation of the upstream and downstream, among other complaints.

Reuters reports that the Speaker said the House would, however, pass the bill within six months.

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