Statoil, a leading Norwegian Oil Company has joined the call for a new law to guide the Nigerian Oil and Gas industry.

The Managing Director Paul Piche, made the call while on a working visit to NEITI. He explained that the issues of transparency and good business environment are important in attracting international investments and stressed the need for the Petroleum Industry Bill to be passed into law.

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The Senate Committee on Petroleum Resources (Upstream) has expressed satisfaction with the contributions of Nigeria Extractive Industries Transparency Initiative (NEITI) towards the on-going reforms of the nation’s extractive industries.

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The Nigeria Extractive Industries Transparency Initiative and the BBC Media Action have agreed to work together to support communication activities targeted at reversing the resource curse through effective dissemination of NEITI industry audit reports and other accountability issues in the extractive sector.

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A Memorandum of Understanding (MoU) between NEITI and Right to Know (R2K),a non-governmental organization , has been put in place. The purpose of the MoU is on the effective implementation of the Freedom of Information Act by NEITI. It seeks to define clearly the rules of engagement between NEITI and R2K.

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