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Tag: Gas

FG's 1,068 oil projects to generate $22.8bn investments
Oil and Gas

Nigeria’s gas production rises 2.2% in Dec 2023

Nigeria’s gas output increased by 2.2% in December 2023 compared to November 2023, when the country’s oil and gas companies produced 146.991 billion standard cubic feet of gas. The Times reported that this data was obtained from the Nigerian National Petroleum Company Limited. However, according to the NNPC, flares accounted for 7.75% of the 11.646 […]

Tackle revenue crisis with gas production, Accountants urge FG
Oil and Gas

Tackle revenue crisis with gas production, Accountants urge FG

The Association of National Accountants of Nigeria urged the Federal Government on Friday to enhance investments in the production of liquefied natural gas, since gas revenues will aid Nigeria’s present income issue. According to The Punch, ANAN stated that this was critical due to the increased global demand for petrol, emphasizing that Nigeria had more […]

Gas production drops despite FG's N250bn intervention fund - Report
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Gas production drops despite FG’s N250bn intervention fund – Report

Last year’s natural gas production decreased even though fifteen companies received a N250 billion intervention fund. The Punch reported that the Energy Institute and KPMG jointly released an industry report stating that between 2021 and 2022, Nigeria’s natural gas production fell by 4 billion cubic feet meters. Gas production in the country, which was estimated to […]

Chinese, Nigerian energy firms sign $1bn gas flaring deal
Oil and Gas

Nigeria’s efforts to curb gas flaring stalled since 2015 – Report

The intensity of gas flaring in Nigeria has not changed since 2015 according to the International Energy Agency. The Times reported that the International Energy Agency said in its Oil and Gas Industry in Net Zero Transitions report, which was published on November 23, that while Nigeria has made significant efforts to lower the intensity of its flaring, […]

Gas production drops despite FG's N250bn intervention fund - Report
Oil and Gas

Gas revenue falls by N3trn in one year – Report

Data from the Energy Institute, a global professional organization for the energy sector, show that the Federal Government lost N3.3 trillion in gas revenue last year as a result of a decline in exports due to poor output. According to The Punch, in its most recent report on the Statistical Review of World Energy, which was […]

Gas production drops despite FG's N250bn intervention fund - Report
Oil and Gas

Nigeria, Algeria, Egypt to dominate Africa’s gas supply market from 2023 to 2027 – Report

Nigeria, Algeria, and Egypt are predicted to dominate the African natural gas and liquefied natural gas supply market from 2023 to 2027. According to The Times, data from the African Energy Chamber’s August 2023 State of African Energy report confirmed this. The analysis estimates that Africa’s natural gas supply will be at 25.5 billion cubic feet […]

SNEPCo MD predicts gas scarcity by 2030
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SNEPCo MD predicts gas scarcity by 2030

The Managing Director of Shell Nigeria Exploration and Production Company Limited, Elohor Aiboni, forecasts a three billion cubic feet per day gas supply crisis in Nigeria by 2030. Speaking in Lagos at the Nigerian Council of the Society of Petroleum Engineers’ annual conference in 2023, Aiboni warned that despite having the largest proven gas reserves in Africa, […]

A gas plant
Business

NMDPRA urges businesses to adopt gas

The Nigerian Midstream and Downstream Petroleum Regulatory Authority is urging businesses to consider opportunities in the gas value chain to prevent future uncertainties regarding diesel supply and other challenges. According to The Punch, this was shared on Tuesday by the authority’s Chief Executive, Farouk Ahmed, during the ‘South-West Stakeholders Engagement on Gas Utilisation in Nigeria’ […]