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Report: Shell will continue to run SNEPCo -- despite divestment of ALL onshore oil assets in Nigeria thecable.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecable.ng Daily Mail and Mail on Sunday newspapers.
Nigeria to prepare its economy for a post-oil era By Reuters Share Nigeria has kicked off plans implementation of efforts to prepare its economy for a post-oil world. According to the Africa’s largest oil producer’s minister of Science and Technology Ogbonnaya Onu, Nigeria looks to introduce methanol into the economy. The minister who spoke at a forum this week said the move will reduce gas flaring by using the natural gas as a feedstock for methanol production. The oil and gas sector in Nigeria accounts for about 10 percent of gross domestic product (GDP), according to OPEC estimates. Nigeria’s revenue from petroleum exports represents around 86 percent of the country’s total exports revenue. ....
• Osinbajo canvasses equitable global energy transition for developing countries • Stakeholders raise fresh concerns over continuous dependence on hydrocarbon • Removal of subsidy, refinery rehabilitation, gas economy sacrosanct, minister insists Mounting global advocacy aimed at halting all-new Final Investment Decisions (FIDs) for fossil fuels, especially oil and gas may create serious hurdles for new fields development as over $150 billion worth of projects risk getting stranded in Nigeria. x Investments in new fossil fuel projects will need to stop immediately if the world is to limit global warming to 1.5 °C, the International Energy Agency (IEA) has said in what commentators have described as a stunning challenge by the historically pro-fossil fuel body. ....
Emmanuel Addeh Nigeria is expected to have about 100 oil and gas projects commencing operations across the value chain between 2021 and 2025, accounting for 23 per cent of all total fresh projects in Africa, a new report has disclosed. According to the report by GlobalData, a data and analytics company, new-build projects would dominate the industry and account for around 90 per cent of the total projects commencing operations across the value chain in Nigeria. In the report titled: ‘Africa Oil and Gas Projects Outlook to 2025 – Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects,’ the company revealed that of the 100 projects expected to commence operations during the period, petrochemicals will have the highest count with 28 projects, followed by upstream (25), refinery (24) and midstream (23). ....
ENERGY Nigeria may account for 23 percent of all oil and gas projects in Africa within the next four years, a report by GlobalData, an oil data and analytics company, has shown. The report also indicated that over 100 oil and gas projects are set to start in Nigeria by 2025 to reduce the country’s reliance on fuel importation to meet the local demands. A breakdown of the projects, according to the report, shows that petrochemical projects will hold the highest share of new projects in Nigeria through 2025 with 28 projects, followed by 25 expected upstream oil and gas projects, 24 refinery projects, and 23 midstream projects. ....