Fidelity bank banner Camano banner
FG commits to new oil and gas output goals

By News Express on 04/03/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 763

•NNPC Group MD Maikanti Baru.
•NNPC Group MD Maikanti Baru.

 

The Federal Government is facilitating the growth of the midstream oil sector with a view to opening up other ancillary sectors that will help boost the industrial sector. Already, the Nigerian Petroleum Development Company, NPDC, is beginning to grow its natural gas production by 150 million cubic square feet per day in line with government aspiration, according to Dr. Maikanti Baru, the managing director of the Nigerian National Petroleum Corporation (NNPC).

Baru in his key note address at the Oil and Gas Conference in Abuja, said, “Beyond growing gas for the power sector, there has been a strategic positioning of the sector to support massive gas-based industrialisation.”

“We will incubate and midwife a portfolio of critical and mutually dependent investments – Central Processing Facilities, CPFs, Fertilizer, Petrochemical, Free Trade Zone, FTZ, infrastructure and Ports – which will jumpstart the gas revolution agenda. NNPC intends to develop or take equity in some of these gas-based industries such as fertilizer and others.”

Equally, the NPDC is strategically repositioning itself to see its production grow to 500,000 barrels per day by 2020, Baru revealed. He expressed confidence that the country’s oil and gas sector had started down the road to recovery as barrel prices trend closer to $60.

Pipeline vandalism in the Niger Delta by militant groups – a major cause of the drop in exports that Nigeria saw last year is now becoming less frequent, he observed. (LEADERSHIP)

Source News Express

Posted 04/03/2017 6:38:38 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Tinubu identifies the problem with Nigeria’s economy

Drama in Kaduna Prison as Senator visits political...

Edo Police Commissioner turned back at the gates...

Boko Haram hits Jos

33 docked over Mile 12 Lagos riots (PLUS:...

Nigerian oil magnate jailed in UK

Free, fair, credible elections dead under Buhari: Fayose...

Ogun to issue permit on borehole drilling

Shell Joint Venture lifts force majeure on gas...

No apology for erecting Zuma’s statue in Owerri...

FG clears Buratai over assets, others

Bayelsa to conduct local council election in 2018...

 

Latest News BREAKING: Gunmen ambush, kill Ex-Defence Chief Alex Badeh Court sacks Kashamu as Ogun PDP governorship candidate Army pulls out five Generals 2019: Any vote for Buhari means insecurity, killings, hunger, Dogara tells North East electorate Maiduguri residents angry over 24 hours electricity supply ‘How bank cashiers aided armed robbers to steal my N2m’ Ogonis go to the polls to elect new MOSOP leadership FCC Director arraigned over N8.8m job scam Buhari accuses NASS of inflating debts payable to states, excluding four states 14 suspected kidnappers, armed robbers nabbed in Kaduna Adeleke faces fresh charges on exam fraud Opposition coalition okays budget presentation by Buhari to National Assembly

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (431,329 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (395,676 views) Shameless Genevieve Nnaji exposes breasts in public (328,524 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (282,813 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (248,516 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,585 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,625 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,834 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (180,321 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,854 views) Lagos plane crash: Journalist releases victims’ names (167,660 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (154,086 views)

 

CBN banner Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,894) Business Verdict (54) Columnists (974) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (681) Global Business Monitor (313) International (2,843) Interview (167) Live Commentary (28) Love Matters (147) Maggie's Blog (79) News (41,567) Opinion (1,154) Pidgin (13) Politics (8,235) Religion (920) Sports (1,831) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera