The Nigerian National Petroleum Company (NNPC) Ltd. on Wednesday said full deregulation of the downstream sector would boost the country’s domestic refining capacity. Mr Mustapha Yakubu, Group Executive Director, Refining, NNPC, said this during a panel session at the ongoing Nigeria International Energy Summit (NIES) in Abuja. The News Agency of Nigeria (NAN) reports that […]
Chairman/Managing Director, Chevron Nigeria Limited (CNL), Rick Kennedy, has identified opportunities in lowering carbon emissions and harnessing Nigeriaâs gas resources as key enablers in complementing the new approaches to future of hydrocarbons in the Nigerian oil and gas industry in the post COVID-19 era.
Rick Kennedy, who was represented by Monday Ovuede, Director, NNPC/CNL Joint Venture, made this known on Tuesday, June 8, 2021 during the CEO Roundtable at the Nigeria International Petroleum Summit (NIPS) at the International Conference Centre, Abuja.
He highlighted the impact of the pandemic on the global oil and gas industry, and commended the resilience of the industry operators in sustaining critical production and remaining competitive through several initiatives such as adoption of digital innovation and leveraging industry collaboration.
Development of policies, regulations key to ending petroleum industry challenges ― Chevron MD Development of policies, regulations key to ending petroleum industry challenges ― Chevron MD
• Says it reduced gas flaring by over 95 per cent in 10 years
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The Managing Director, Chevron Nigeria Limited (CNL), Rick Kennedy, has said that for Nigeria to be able to address existing challenges in the oil and gas industry, there is a need for the development of robust policies and regulations.
He said the new approaches to the future of hydrocarbons include digital technology and innovations; cost efficiency initiatives; sustained social investments and continued support for Nigerian Content Development.
Patrick Atuanya
Deregulation. How this one word remains an enigma with regards to the downstream oil and gas sector in Nigeria must be one of the wonders of the world.
How can it be that something so glaringly and clearly the best way to go for Nigeria is not being adopted – especially when short term fixes like subsidies and pseudo deregulation policies have failed to make any impact?
The billions of naira Africa’s largest oil-producing country commits to subsidising petrol is no longer news, but what is more infuriating is the opportunity cost forgone in a slow growing economy that could use more private sector investments for job creation and growth.