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.... ....   Home  |  Cover Stories  |  National Newsreel  |  Politics  |  Business  |  Sports  |  World  | Contact  | Advert Rates  Towards a better life for the people Search The Archives   Cover Stories National News South West Niger Delta South East North Politics Business Sports World Viewpoints Features   Senate unanimously passes Oil & Gas Industry Bill By Emmanuel Aziken Friday, August 27, 2004 ABUJA—The Senate has passed a bill aiming to give Nigerians and locally owned companies more leverage in the oil and gas industry. The oil and gas industry bill unanimously passed by the Senate, also aims to compel oil production companies to establish operational offices in their areas of operation and stipulates a minimum level of social responsibility from the oil companies towards their host communities. The bill sponsored by Senator Ibiapuye Martyns-Yellowe (PDP, Rivers) was read for the third time and passed yesterday afternoon following the Senate’s adoption of the report of the Senate Committee on Downstream Petroleum which studied the report. Senators James Manager (PDP, Delta) and Effiong Bob (PDP, Akwa Ibom) from the oil rich Niger Delta region were effusive in their praise of their colleagues and hopeful that the bill would mean better for the fortunes of their constituents and the region. Presenting the Committee report yesterday, Senator Emmanuel Agboti, chairman of the Senate Committee on Downstream Petroleum said the bill aimed for “Nigerians to occupy and, within the foreseeable future, control the commanding heights of the Oil and Gas sector, at least, within the limit of available technological know how and other relevant resources.”   Home  |  Cover Stories  |  National Newsreel  |  Politics  |  Business  |  Sports  |  World  | Contact  | Advert Rates © 1998- 2004. Vanguard Media Ltd.

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