As Nigeria’s oil and gas sector awaits the passage of the Petroleum Industry Bill (PIB) to provide clarity on the terms of investments, the Minister of State for Petroleum, Dr. Ibe Kachikwu, has stated that the federal government would finalise four new additional policies in the sector by the end of October this year.
Kachikwu has also hinted that the proposed talks on output cuts by the Organisation of Petroleum Exporting Countries (OPEC) to ensure the rebound of oil prices would have limited influence on the prices as the cartel controls only 30 per cent of the global oil output.
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