Local Content Rules To Be Enforced By 2012

Nigeria will stop granting local content waivers to international oil companies (IOCs) at the end of a three-year grace period following passage of a local content bill, according a June 22 Platts report. Enforcement of the bill is likely to bring the government and IOCs into conflict over compliance with the new regulations. Platts reported that state-run Nigerian National Petroleum Corporation (NNPC) had already accused US major Chevron of failing to take steps necessary to meet its local content obligations, a charge that Chevron has denied

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