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LequteMan
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Nigeria - Africa's largest economy has been plagued by serious revenue decline following the crash in global oil prices. Amidst these challenges, the NNPC has offered strategic solutions aimed towards cushioning the effects for Nigeria, Vanguard reports.
Speaking at the 2015 Oloibiri Lecture Series & Energy Forum (OLEF) held at the Shehu Yar’Adua Centre in Abuja, NNPC’s Coordinator, Corporate Planning & Strategy, Dr. Timothy Okon said the Nigerian Oil & Gas Industry would have to adapt to the new realities facing the global sharp decline in crude oil prices which include the realities of politics, environment, technology and the economics of scale.
To address these challenges, Dr. Okon advocated solutions such as the speedy passage of the petroleum Industry Bill (PIB), restructuring of the public finance, focusing on more profitable entities and the review of spendings on capital expenditure.
Other solutions, Dr. Okon observed, include the removal of fuel subsidy, exploring Asian markets, optimization of local refineries as well as delivering gas projects (LNG and other domestic gas obligations)
#NIgeria #NNPC #OilCrash
Speaking at the 2015 Oloibiri Lecture Series & Energy Forum (OLEF) held at the Shehu Yar’Adua Centre in Abuja, NNPC’s Coordinator, Corporate Planning & Strategy, Dr. Timothy Okon said the Nigerian Oil & Gas Industry would have to adapt to the new realities facing the global sharp decline in crude oil prices which include the realities of politics, environment, technology and the economics of scale.
To address these challenges, Dr. Okon advocated solutions such as the speedy passage of the petroleum Industry Bill (PIB), restructuring of the public finance, focusing on more profitable entities and the review of spendings on capital expenditure.
Other solutions, Dr. Okon observed, include the removal of fuel subsidy, exploring Asian markets, optimization of local refineries as well as delivering gas projects (LNG and other domestic gas obligations)
#NIgeria #NNPC #OilCrash
