Tag: Oil

  • NUPRC Registers 172 Host Community Trusts, Enforces 3% Oil Levy

    NUPRC Registers 172 Host Community Trusts, Enforces 3% Oil Levy

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    by

    Starnews NG
    in

    By Opeyemi Adelakun The Nigerian Upstream Petroleum Regulatory Commission has registered 172 Host Communities Development Trusts established by oil and gas companies under the Petroleum Industry Act. The development comes as the regulator intensifies enforcement of the PIA provision requiring oil and gas companies, known as settlors, to contribute three per cent of their operating…