NEWS BRIEF:
Reps Launch Probe Into Refinery Maintenance, Dangote Market Dominance,
The House of Representatives Committee on Petroleum Resources (Downstream) has opened a comprehensive investigation into major concerns in Nigeria’s oil sector, including the controversial turnaround maintenance of refineries and the dominance of the Dangote Refinery.
Committee Chairman, Ikenga Ugochinyere, disclosed on Wednesday that the probe would cover the failed restart of the Port Harcourt and Warri refineries, crude supply bottlenecks for modular refineries, and the acquisition of OVH Energy by the Nigerian National Petroleum Company Limited (NNPCL).
He said stakeholders have raised alarm over anti-competitive practices and policy threats affecting investments in the sector, including fears of a monopolised petroleum products market.
The committee also plans to review the Petroleum Industry Act for necessary amendments to address gaps in regulation and ensure fair market practices.
Reps Launch Probe Into Refinery Maintenance, Dangote Market Dominance,
The House of Representatives Committee on Petroleum Resources (Downstream) has opened a comprehensive investigation into major concerns in Nigeria’s oil sector, including the controversial turnaround maintenance of refineries and the dominance of the Dangote Refinery.
Committee Chairman, Ikenga Ugochinyere, disclosed on Wednesday that the probe would cover the failed restart of the Port Harcourt and Warri refineries, crude supply bottlenecks for modular refineries, and the acquisition of OVH Energy by the Nigerian National Petroleum Company Limited (NNPCL).
He said stakeholders have raised alarm over anti-competitive practices and policy threats affecting investments in the sector, including fears of a monopolised petroleum products market.
The committee also plans to review the Petroleum Industry Act for necessary amendments to address gaps in regulation and ensure fair market practices.
NEWS BRIEF:
Reps Launch Probe Into Refinery Maintenance, Dangote Market Dominance,
The House of Representatives Committee on Petroleum Resources (Downstream) has opened a comprehensive investigation into major concerns in Nigeria’s oil sector, including the controversial turnaround maintenance of refineries and the dominance of the Dangote Refinery.
Committee Chairman, Ikenga Ugochinyere, disclosed on Wednesday that the probe would cover the failed restart of the Port Harcourt and Warri refineries, crude supply bottlenecks for modular refineries, and the acquisition of OVH Energy by the Nigerian National Petroleum Company Limited (NNPCL).
He said stakeholders have raised alarm over anti-competitive practices and policy threats affecting investments in the sector, including fears of a monopolised petroleum products market.
The committee also plans to review the Petroleum Industry Act for necessary amendments to address gaps in regulation and ensure fair market practices.
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