Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, Tuesday led a delegation of stakeholders in the oil industry to the Senate for a technical briefing on the Petroleum Industry Bill (PIB) where she disclosed that the bill has drastically curtailed the powers of both the Federal Government and the minister overseeing the oil sector.
Alison-Madueke also said in line with the drive of the bill to deregulate the oil industry, the Nigerian National Petroleum Corporation (NNPC) would be unbundled into a world-class National Oil Company (NOC) patterned after globally recognised models like Petrobras in Brazil and Petronas in Malaysia.
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