*IOCs lobby NASS for favourable terms *No fresh licensing round before February elections – Kachikwu Chuks Isiwu &…
Browsing: Dr. Emmanuel Ibe Kachikwu
Wabote stressed that operations of the oil and gas industry were time sensitive adding that a shortened contracting cycle would cut the cost of projects considerably.
Other expected benefits include improved revenue generated from hydrocarbon production and export, accurate hydrocarbon data (Production and Export) monitoring, and consistent high-quality data publication.
Princewill Demian 25 April 2018, Sweetcrude, Abuja – The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has…
“Nigeria is an important country for Shell. We see good opportunities there for potential investment,” referencing its Bonga offshore oil field and the expansion of liquefied natural gas as examples of this. Both projects are subject to a future final investment decision and we continue to work with our partners and the government towards that in each case.”
“The different segments, upstream to downstream, undoubtedly bring benefit to our nations. As such realization of the entire value chain of these petroleum resources within our countries, presents a virile opportunity to alleviate socio-economic challenges and foster sustainable growth in our countries.”
“It is in accordance with that tradition that Dr. Kachikwu was spotlighted as one of the greatest influencers of the continent, last year.”
When asked to clarify if the current figure on petrol under-recovery was annually and how the federal government felt about it, the minister said: “Yes, currently. That is being addressed at a very high level and I don’t want to go into that.”
“New acreages will be awarded for exploration and production under new laws and terms, especially offshore which is likely to account for much of the growth in the nation’s reserves.”
He noted, however, that the modular refineries would essentially address the menace of illegal crude oil refining rampant in the Niger Delta, while saving the environment and providing more legal opportunities for the youth of the area.