Questions remain over impact of oil reforms

摘要

Cape Town—Legislation to remodel Nigeria’s oil industry, Africa’s largest, could become law in June, but questions remain about how the broad and ambitious Petroleum Industry Bill would be enacted and its true impact. Uncertainty over the bill, first proposed in 2008 and amended many times since, has stalled fresh investment with major oil companies, putting on hold key oil and gas projects until details on tax and royalty rates are known. President Goodluck Jonathan pledged May 29 that the legislation would be completed in June and sent to parliament.