The adoption of the PIB in June has been delayed again more due to concerns about increased revenue for host cities.

With less than a week until the latest deadline to pass the long-awaited Petroleum Industry Bill (PIB), recent developments reveal that a deal to provide 10% of derived oil revenue to host towns, rather than the existing 2.5 percent, could prolong the bill's passage into late this year. Four sources told Reuters on Wednesday that...for further reading, click on

Source: BusinessDay Newspaper        Jun 23, 2021