Nigeria’s plan to amend its landmark Petroleum Industry Act (PIA) has sparked concern across the oil and gas industry, with industry lawyers, analysts, and investors warning that the proposal could erode governance reforms, hurt production contracts, and trigger costly disputes.
At the heart of the controversy is a proposed amendment, flagged by Oilprice and Reuters, which will transfer concessionaire powers and regulatory authority from the Nigerian National Petroleum Company (NNPC) Limited to the Nigerian Upstream Petroleum Regulatory Comm
