Trillion Cubic Feet
Stakeholders advocate efficient fiscal policy for oil, gas sector
Stakeholders in the oil and gas sector have called for proactive fiscal policy in the petroleum industry to fast track investment and infrastructure development in the country. The stakeholders disclosed this at the Virtual workshop on Leveraging Fiscal Regulations to Attract Investments in the Petroleum sector, on Thursday. Mr Osten Olorunsola, Chairman, Energy Institute Nigeria, said that the oil and gas sector in Nigeria needed a lot of investment to meet with the current global challenges. He stated that globally, the industry had witnessed decline in product demand and low price regime, adding that only low cost molecules would be able to make it in the market. Olorunsola said that the sector in Nigeria needed to transform to meet with current trend as the sector was not buoyant as pe...
President Buhari urges stakeholders commitment as NLNG signs Train 7 project construction
Nigeria LNG Limited (NLNG), Bonny, Rivers state, says it has signed Engineering, Procurement and Construction (EPC) Contracts for much-anticipated Train 7 Project with the SCD JV Consortium, comprising affiliates of Saipem, Chiyoda and Daewoo. The development signifies the commencement of the Detail Design and Construction phase of the project expected to increase the capacity of NLNG’s current six-train plant by 35% from the extant 22 Million Tonnes Per Annum (MTPA) to 30 MTPA. Tony Attah, Managing Director, NLNG, said, “The award of the EPC Contracts clearly demonstrates our Shareholders’ determination and resolve to sustain the economic dividends NLNG’s monetization of our vast natural gas reserves offers Nigeria” Group Managing Director (NNPC) and a Director on the NLNG Board, Mele Kya...
