Oil & Gas: Nigeria to account for 23% of projects in Africa by 2025

Oil & Gas: Nigeria to account for 23% of projects in Africa by 2025 — Report

•100 petrochemical projects underway

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.

According to the report, some of the notable projects in the upstream sector include the deepwater Bonga North oilfield and the onshore conventional gas Okpokunou cluster development.

Bonga North is currently in its Front End Engineering Design (FEED) stage and is expected to start operations by 2025. Cluster development is at a feasibility stage and is expected to begin operations by 2024.

Projects in Nigeria’s refining sector will also be closely watched as Nigeria is eager to reduce its reliance on fuel imports, revamp its old refineries, and build new ones.

Dangote refinery with a production capacity of 650,000 barrel per day will be a key project, which is expected to start operations in 2022 and become the largest oil refinery in Africa.

Commenting on the development, Oil & Gas Analyst at GlobalData, Teja Pappoppula, said: “Nigeria is betting on several refinery and petrochemicals projects to meet its growing domestic demand and reduce its reliance on imports.

“The projects also have potential to transform Nigeria as an exporter of refined products to neighbouring countries.

Comments

Steer Clear from Tompolo's Pipeline Surveillance Job, Face Your Olu's Contract... Activist Warn Itsekiri Leaders

Steer Clear from Tompolo's Pipeline Surveillance Job, Face Your Olu's Contract... Activist Warn Itsekiri Leaders Niger Delta Human Rights Activist, comrade Daniel Ezekiel has berated ltsekiri leaders for calling on the Federal Government to decentralize the pipeline security contract awarded to the Niger Delta living legend, High Chief Government Ekpemukpolo alias Tompolo. The activist in a statement to FocalPoint Reports, on Thursday, reacted with displeasure and strongly condemned Itsekiri leaders Who were led by Hon. Michael Diden to call for the decentralization of Tompolo's Surveillance contract, during a visit to High Chief Bibopere Ajube (Shoot-at-sight) at his Agadagba-Obon, residence in Ese-Odo Local Government Area of Ondo State, Ezekiel Daniel described those who visited Bibopere Ajube as self-proclaimed Itsekiri leaders and their voices are nothing good but mere distractions and should not be taken seriously. He added that the statements made by

NMU Governing Council chairman seeks solutions to challenges facing varsity

NMU Governing Council chairman seeks solutions to challenges facing varsity The Acting Chairman of the Governing Council of the Nigerian Maritime University, Okerenkoko, Delta State, Adewale Adeogun, has appealed for immediate action to address the pressing challenges facing the institution. Adeogun, who spoke during the council meeting in Warri, expressed deep concern over the university’s underdevelopment despite its six-year existence. Highlighting the urgent need for government intervention, Adeogun emphasised the importance of establishing a permanent campus and ensuring adequate funding. He pointed out that the university’s progress has been hindered by the suspension of projects initiated by the Nigerian Maritime Administration and Safety Agency (NIMASA). “It is disheartening to see that despite being a specialised university, Nigerian Maritime University is still struggling to find its footing,” Adeogun stated. “We must work tirelessly to secure government support, philant

Retired police officers protest over unpaid pensions

Some retired police officers under the contributory pension scheme on Tuesday, May 21, protested at the National Assembly over alleged several months of unpaid pensions with a call on President Bola Tinubu to remove them from the scheme. The protesters decried the extreme challenges they endure, saying that the National Pension Commission (PENCOM) has failed to pay their entitlements for several months causing them and their families untold hardship. The aggrieved retired police officers also wrote a Save Our Soul (SOS) letter to the President of the Senate, Godswill Akpabio, calling for an urgent intervention. Speaking on behalf of the protesters, Chairman of the retirees, Christopher Effiong said many of their members have developed terminal illnesses and heart attacks as a result of the frustration associated with the scheme. In a letter dated May 21 and addressed to Senate President Godswill Akpabio, the retirees said many of their colleagues have lost their lives due to the prevai

FocalPoint Reports

Search This Blog