By Udeme Akpan
There are indications that the capacity utilisation of oil and gas dockyards in Nigeria has dropped to 15 per cent as a result of relatively low oil prices in the global oil market.
This appears to be very significant, when the over 60 per cent capacity utilisation of the dockyards in 2014 is considered.
The oil and gas dockyards, including Niger Dock, Dormanlong, Kaztec Engineering, were established at various times to provide fabrication and other services to oil and gas companies, thus conserving foreign exchange, building indigenous capacity as well as promoting technological advancement in the nation.
In an interview with Vanguard, Monday, Chairman, Petroleum Technology Association of Nigeria (PETAN), Mr. Nicholas Odinuwe, who confirmed the drop in capacity utilisation, said: “The capacity utilisation of the dockyards has dropped to about 15 per cent in the past few years, due mainly to low oil prices, drop in foreign exchange generation, review of contracts
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Oil/Gas: Nigeria loses billions of Naira as dockyards capacity drops to 15% Investigation
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By Udeme Akpan
There are indications that the capacity utilisation of oil and gas dockyards in Nigeria has dropped to 15 per cent as a result of relatively low oil prices in the global oil market.
This appears to be very significant, when the over 60 per cent capacity utilisation of the dockyards in 2014 is considered.
The oil and gas dockyards, including Niger Dock, Dormanlong, Kaztec Engineering, were established at various times to provide fabrication and other services to oil and gas companies, thus conserving foreign exchange, building indigenous capacity as well as promoting technological advancement in the nation.
By Emmanuel Addeh
The Department of Petroleum Resources (DPR), has said moribund oil and gas facilities across the country would limit domestic refining capacity and hinder projected benefits and revenues.
A statement from the organisation stated that DPR Director, Mr Sarki Auwalu, made the comment during a visit to a fabrication yard located at Ilase Village, Snake Island, Lagos State.
He insisted that the federal government was, however, committed to reactivating the moribund oil and gas support facilities across the country, adding that the move was part of the government’s effort to increase domestic refining capacity and gas utilisation to curb unemployment and poverty in Nigeria.
FG to reactivate moribund oil, gas support facilities nationwide vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.