Oil, Gas Investment: Local, foreign investors consider opportunities in Nigeria
Local, foreign investors consider opportunities New petroleum policy excites investors Lull in oil market, budget cut, militancy constitute new threats Stakeholders to propose alternative funding, other measures as NIPS opens in Abuja With over 36 billion barrels and 192 trillion standard cubic feet of oil and gas respectively, Nigeria stands tall as a leading petroleum giant, with many viable and feasible opportunities in Africa. Investigations by Sweetcrude showed that in the upstream, investment opportunities exist in the exploration and production of crude oil and condensates.
In the downstream sector, opportunities exist in refining, distribution and marketing of petroleum products, by-products and derivatives. The investors, it was learnt can construct depots, filling stations and procure tankers for storage retailing and distribution of products. A document obtained from the Ministry of Petroleum Resources, showed that other opportunities abound in the gas sector for investors interested in the production of various products, including liquefied petroleum gas. This involves the construction of infrastructure and distribution systems nationwide. It indicated that they can invest in the exploitation of compressed natural gas (CNG), involving the use of tube trailers to deliver gas to consumers who are not close to existing gas facilities. The Investors are further needed to invest in the popularization of gas as automobile fuel, which demands the establishment of filling stations and conversion workshops to convert automobile engines from petrol and diesel to CNG.
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