Energy Economy

18 Nov 2021

Nigeria to Stage for Oil, Gas Investment in U.S.

18 Nov 2021  by   

Amid global energy transition and changes in the sector to accommodate the exigencies of climate change and carbon reduction, Nigeria is making efforts to stage for investment in the U.S.

To be led by the Minister of State for Resources, Timipre Sylva and the Group Managing Director, Nigerian National Petroleum Corporation Limited (NNPC), the move is coming on the backdrop of the new Petroleum Industry Act (PIA).

While the country has intensified the need to accelerate development of gas assets as well as sensitisation on local utilisation of the resources, persistent push towards net-zero lay siege to existing hydrocarbon resources in the country amidst drying investment.

Sylvia and Kyari are expected to gather on the heels of the 23rd World Petroleum Congress coming up in Houston from next month to push opportunities for the country.

Details of the event seen by The Guardian showed that both the Minister of State for Petroleum Resources and the Group Managing Director of NNPC would be keynote speakers in the Nigeria Day- Energy Forum on December 8, being organised by Energy & Corporate Africa as part of the agenda for the 23rd World Petroleum Congress.

The Nigeria-Day -Energy forum with the theme, ‘Nigeria-Charting a new energy pathway for socio-economic growth’, would showcase to international audience various steps and projects the country is engaging in the upstream, midstream and downstream sectors to ensure that the global energy expansion and transitions becomes beneficial for the socio-economic development of the country.

It will also elucidate the coming of age and the progress so far actualised by indigenous operators in ensuring development of the energy sector and the attractions of the Petroleum Industry Act.

Also speaking at the forum would be Wale Tinubu, Group Chief Executive Officer, Oando Plc, and other industry captains from Nigeria.

The Chief Executive Officer Energy & Corporate Africa, Sunny Oputa, organisers of the Nigeria Day -Energy Forum, had told The Guardian that the event would provide a platform for all stakeholders and operating companies to present and discuss the new pathway Nigeria is charting in the trending energy transition.

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