Browsing: Nigerian National Petroleum Corporation (NNPC)

There is still plenty to accomplish. Even after a year, the PIA is still in a transitional period, with committees deliberating its practical implications. One seasoned Nigerian expert questioned how much the NNPC would change due to its transition into a limited liability corporation. Still, post-PIA data suggests that Nigeria’s oil and gas industry may be moving in the right direction.…

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.

Investments

Nigeria has no plans to drop oil and gas exploration or to stop trying to attract investments in its most important revenue stream, despite the shocking report from the International Energy Agency (IEA), which suggested last week that no new investments in oil and gas are necessary if …

Nigeria’s President Muhammadu Buhari has assured investors that the country’s fiscal policies will be more favourable, predictable and measurably tilted towards creating a harmonious business environment.

Buhari who spoke on Wednesday in Paris, France, urged investors to further explore vast opportunities of human and natural resources in Nigeria.

His call came as he held meetings with some of the biggest investment players, among them the Chairman/CEO of Total, Patrick Pouyanne, Executive Vice President, AirBus, Silvere Delaunay, Chairman of the Board of a software company, Daussault Systems, Florence Verzelen, Chairman/CEO of General Engineering and Marketing of Telecommunications Operator, Francois-Regis Teze and Chairman/CEO, Donaflex Automotive, Dr Donatus Nwokoye, in Paris.

Scaling up operating standards

While meeting with the delegation from Total, President Buhari said the outlook and potentials for growth in the country have remained steadily positive, affirming the government’s commitment to scale up operating standards and policies that encourage mutual benefits.…