Nigeria's upstream petroleum sector: looking back at 2020 and looking ahead in 2021
Posted on: January 22, 2021 By: Adam Blythe, Catherine Todd
We review what happened in Nigeria’s upstream petroleum sector during the previous year – a year that saw a new marginal field bid round, an oil price crash and the onset of a terrible global pandemic. We also consider what we can expect in 2021 and if this will be the year the Petroleum Industry Bill finally overhauls the sector. What happened in legal matters? Upon his re-election in 2019, President Buhari set out an ambitious plan to pass the Petroleum Industry Bill (PIB) by the end of 2020. He did not achieve that. However, progress was made: the PIB passed its second reading in both the...