Platts
1 June 2011
Operators in the Nigerian oil industry Wednesday condemned the failure of the parliament to pass a key legislation intended to overhaul the country's petroleum industry, despite assurances from lawmakers they would pass the bill before the end of their term of office.
The two chambers of the National Assembly have formally admitted that the Petroleum Industry Bill cannot be passed, and that it will be dealt with by the incoming parliament, lawmakers said Wednesday.
But industry operators said the development meant prolonging the delay in the oil reform bill becoming a law because a new set of lawmakers would require more time to study the bill.
"It is a terrible situation, a real setback for the industry," a senior official of the state-owned Nigerian National Petroleum Corp. told Platts.
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