Thursday, June 8, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use
Oil Market News
  • Home
  • Marketdaily
  • Price
  • crudenow
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEChot
  • brend
  • ships
Oil Market News
Home Companies

Petroleum Engineers Calls For Maximisation Of Gas Resources

10 months ago
in Companies
Petroleum Engineers Calls For Maximisation Of Gas Resources
Share on FacebookShare on Twitter


The Society of Petroleum Engineers (SPE), Nigeria Council, has called on federal government to adopt implementable energy policy that will maximise Nigeria’s abundant natural gas resources to address the nation’s energy deficit.

The society advocated the need for strict enforcement of gas flaring penalty by oil companies to deter the practice, which was affecting the country negatively.

The SPE recalled that president Muhammadu Buhari had assured the global community of Nigeria’s commitment to achieving a net zero carbon emission by 2060 and was working towards that but urged the government to deploy adaptive strategies that protect Nigerians from the socio-economic impact.

Chairman, SPE, Nigeria Council, Olalekan Olafuyi, stated these at a press conference preparatory to the 2022 Nigeria Annual International Conference and Exhibition (NAICE) in Lagos.

The NAICE is a yearly event of the SPE and this year’s edition is scheduled to hold from August 1, to August 3, in Lagos.

Olafuyi said, the theme of the conference: “Global Transition to Renewable and Sustainable Energy and the Future of Oil and Gas in Africa”, is very apt and in line with current realities.

Despite its huge oil and gas deposits, Nigeria continues to grapple with high energy deficit, leading to acute poverty and wide scale unemployment.

He said: ‘The world is facing the challenges of balancing the urgency of transition to cleaner energy with the obvious energy deficit and economic challenges experienced in recent times.

“It is expected that adaptive strategies for energy transition should be adopted in Africa. This is the core of the conference.”

He also called for investments in gas infrastructure across the country and establishing policies that would support gas development and utilisation.

On the spate of oil theft in the country, Olafuyi said, SPE was ready to assist the government in proffering solutions that could curb the menace. He added that the activities of vandals and oil thieves were shortchanging Nigeria’s revenue and had become a huge challenge to the industry.

Olafuyi said the 2022 NAICE would feature contributions from minister of state for Petroleum Resources, Timipre Sylva,and Mele Kyari, group chief executive officer, Nigerian National Petroleum Company Ltd.

 



leadership.ng

Latest Oil News

New study shows huge variation in how different oil companies manage climate

New study shows huge variation in how different oil companies manage climate

February 1, 2023
Eni Boosts Gas Production In Libya With $8 Billion Investment

Eni Boosts Gas Production In Libya With $8 Billion Investment

January 31, 2023
Can Colombia Really Replace Oil And Gas Revenue?

Can Colombia Really Replace Oil And Gas Revenue?

January 30, 2023
Oil And Gas In For Turbulent Year As Governments And Industry Butt Heads

Oil And Gas In For Turbulent Year As Governments And Industry Butt Heads

January 29, 2023
Tags: callsengineersGasMaximisationPetroleumResources
Previous Post

New fuel and gas prices in effect – FBC News

Next Post

Baker Hughes sells Russian oil field services business to local management team

Related Posts

New study shows huge variation in how different oil companies manage climate

New study shows huge variation in how different oil companies manage climate

by Oil Market News
February 1, 2023
0

By Jon Goldstein and Ben HmielFor the last several years, researchers have been studying methane emissions in the Permian Basin...

Eni Boosts Gas Production In Libya With $8 Billion Investment

Eni Boosts Gas Production In Libya With $8 Billion Investment

by Oil Market News
January 31, 2023
0

Given that Libya has exhibited all the stability of a puff adder on benzedrine since the West removed its longstanding...

Can Colombia Really Replace Oil And Gas Revenue?

Can Colombia Really Replace Oil And Gas Revenue?

by Oil Market News
January 30, 2023
0

Colombia’s new President, Gustavo Petro, wants to move the South American country away from fossil fuels and replace oil revenues...

Oil And Gas In For Turbulent Year As Governments And Industry Butt Heads

Oil And Gas In For Turbulent Year As Governments And Industry Butt Heads

by Oil Market News
January 29, 2023
0

Windfall taxes, price caps, and calls for more oil and gas production marked 2022 in oil and gas. It looks...

New tech could unleash NM’s clean geothermal energy potential

New tech could unleash NM’s clean geothermal energy potential

by Oil Market News
January 28, 2023
0

Canadian company Eavor Inc. has designed a new closed-loop system to tap geothermal energy in deep-underground hot-rock formations. Eavor applies...

Bob Simpson’s TXO Energy goes public, soars 10% on first trading day

Bob Simpson’s TXO Energy goes public, soars 10% on first trading day

by Oil Market News
January 27, 2023
0

Veteran oilman Bob Simpson ushered a new venture to the New York Stock Exchange Friday when Fort Worth-based TXO Energy...

Next Post
Baker Hughes sells Russian oil field services business to local management team

Baker Hughes sells Russian oil field services business to local management team

Subscribe
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trend Oil News

Australia’s Woodside pulls out of Myanmar gas projects

Australia’s Woodside pulls out of Myanmar gas projects

1 year ago
Oil rises 4% on supply threats, still set for weekly drop

Oil rises 4% on supply threats, still set for weekly drop

9 months ago
United Oil & Gas 2021 Production Was Higher Than Expected — Energy Comment

Energy Up After Russia Slashes Oil Production, Texas Freezes — Energy Roundup

6 months ago
Russia And Iran Look To Strengthen Grip On Global Oil Markets

Russia And Iran Look To Strengthen Grip On Global Oil Markets

5 months ago
Socar Trading projects oil prices to hit $80 in 2021

Socar Trading projects oil prices to hit $80 in 2021

1 year ago
ADVERTISEMENT
Canadian refiner Irving Oil explores options including sale

Canadian refiner Irving Oil explores options including sale

June 8, 2023

UK watchdog bans Shell, Repsol and Petronas greenwashing ads

June 7, 2023

Opec+ is not on board with Saudi’s ‘whatever it takes’ message

June 6, 2023

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

June 5, 2023

Opec bans prominent media groups from Vienna meeting

June 4, 2023

Saudi Arabia’s ‘prickly prince’ of oil bristles as crude price slides

June 3, 2023

Crude Oil

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

February 1, 2023
Oil rises after U.S. fuel stocks draw down; economic concerns loom

Oil prices settle steady on higher U.S. demand, weaker dollar

January 31, 2023
S&P 500 Down 1%; Crude Oil Drops Over 2%

S&P 500 Down 1%; Crude Oil Drops Over 2%

January 30, 2023
Russia Can’t Replace the Energy Market Putin Broke

Russia Can’t Replace the Energy Market Putin Broke

January 29, 2023

Investing

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

February 1, 2023
Crude Oil Shielded From Bond and Stock Market Rout

Clean-energy investing poised to top money backing oil and gas after hitting a record

January 31, 2023
Crude Oil Shielded From Bond and Stock Market Rout

The Cushing® MLP & Infrastructure Total Return Fund Announces Fund Name Change

January 30, 2023
Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

January 29, 2023

Market

Canadian refiner Irving Oil explores options including sale

Canadian refiner Irving Oil explores options including sale

June 8, 2023
UK watchdog bans Shell, Repsol and Petronas greenwashing ads

UK watchdog bans Shell, Repsol and Petronas greenwashing ads

June 7, 2023
Opec+ is not on board with Saudi’s ‘whatever it takes’ message

Opec+ is not on board with Saudi’s ‘whatever it takes’ message

June 6, 2023
Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

June 5, 2023

OPEC

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

February 1, 2023
‘OPEC does not control the price’: OPEC President | OPEC News

‘OPEC does not control the price’: OPEC President | OPEC News

January 31, 2023
OPEC+ Closely Watches Chinese Factory Data

OPEC+ Closely Watches Chinese Factory Data

January 30, 2023
Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

January 29, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use

© 2022 OilMarket.News

No Result
View All Result
  • Home
  • Market
  • Price
  • crude
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEC
  • brend
  • ships

© 2022 OilMarket.News

wpDiscuz
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.