Govt Scraps DPR, PPPRA

The Federal Government has scrapped the Department of Petroleum Resources (DPR) and Petroleum Products Pricing Regulatory Agency (PPPRA) under its planned reform of the oil sector.
They are to be replaced with the Petroleum Technical Bureau (PTB) and Downstream Petroleum Regulatory Agency (DPRA), if the Petroleum Industry Bill (PIB) is passed by the National Assembly.

The House of Representatives, yesterday, returned the PIB to President Goodluck Jonathan, claiming that it has no time to consider the bill because of its impending vacation.

But the Senate has promised not to delay the bill’s passage.

Under the bill, the government is offering 30 per cent equity to Nigerians in the unbundled Nigerian National Petroleum Corporation (NNPC).

Source: The Nation
http://www.thenationonlineng.net/2011/index.php/mobile/news/54560-govt-scraps-dpr-pppra.html