The National Petroleum Institute ("INP"), the Petroleum Sector regulatory body, has launched a stakeholders consultation process for the Petroleum Law amendment. This is not an overhaul of the law but rather a process to streamline the law with the current developments and clarify some ambiguities which were identified out of the 5th Licensing Round in 2014. The Petroleum Law governs the granting of Petroleum Operation rights in the Upstream and Midstream sectors of the Industry.
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