Abstract

This study specifically examined if multinational oil companies‘ involvement in the production of petroleum products in Nigeria undermines the full utilization of oil refineries in Nigeria and the effectiveness of regulatory authority in this regard in Nigeria. An ex-post-facto research design in a qualitative descriptive presentation was employed. It was observed that while the upstream petroleum sub-sector dominated by the multinational oil companies thrive favorably, the overall utilization of Nigeria refineries is low. Also, it was observed that multinational oil companies did not completely adhere to stipulated policy(s) as it relates to oil and gas and as such undermined the effectiveness of the regulation authorities in Nigeria. It was then suggested that the tenets of ̳petroleum industry law‘ should be sustained and fully implemented.