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Laws of the Federation Petroleum Act

In: Computers and Technology

Submitted By gbubemi
Words 58070
Pages 233
CHAPTER P10
PETROLEUM ACT

• Laws • Subsidiary Legislation •
LAWS
ARRANGEMENT OF SECTIONS
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.

Vesting of petroleum in the State, etc.
Oil exploration licences, oil prospecting licences and oil mining leases.
Refineries.
Control of petroleum products.
Offences in connection with the distribution of petroleum products.
Price control.
Rights of pre-emption.
Power and duties of public officers.
Regulations.
Discharge of obligation to make payments.
Settlement of disputes by arbitration.
Delegation of powers.
Offences.
Repeals, amendments, transitional and savings provisions.
Interpretation.
Short title and commencement.

SCHEDULES
First Schedule Oil exploration licences, oil prospecting licences and oil mining leases
Second Schedule
Third Schedule
Fourth Schedule

Rights of pre-emption
Repeals
Transitional and savings provisions

CHAPTER P10
PETROLEUM ACT
An Act to provide for the exploration of petroleum from the territorial waters and the continental shelf of Nigeria and to vest the ownership of, and all on-shore and off-

shore revenue from petroleum resources derivable therefrom in the Federal
Government and for all other matters incidental thereto.
[27th November, 1969]
[Commencement.]
1. Vesting of petroleum in the State
(1) The entire ownership and control of all petroleum in, under or upon any lands to which this section applies shall be vested in the State.
(2) This section applies to all land (including land covered by water) which—
(a)
is in Nigeria; or
(b)
is under the territorial waters of Nigeria; or
(c)
forms part of the continental shelfs; or
[1998 No. 22.]
(d)
forms part of the Exclusive Economic Zone of Nigeria.
(3) In this section references to “territorial waters” are references to the expression as defined in the Territorial

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