The Federal Government is to deduct the cost of any damage on oil and gas facilities caused by an act of vandalism, sabotage or any other civil unrest, from the special funds that will be created for the provision of social and economic infrastructure for oil and gas-producing communities.
This measure, which is one of the provisions of the new draft Petroleum Industry Bill (PIB) that was submitted to President Goodluck Jonathan, during the weekend, is to ensure that oil-producing communities that will be part-owners of oil and gas blocks and other installations in their communities take steps to protect these assets against vandalism and sabotage.
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