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The average price for refilling a five kilogramme (Kg) cylinder for Liquefied Petroleum Gas, otherwise known as cooking gas increased by 1.37 per cent (month-on-month) to N2, 067.68 in February 2019, compared to N2,039.82 recorded in January, according to the National Bureau of Statistics (NBS).

But it decreased by -4.09 per cent, year-on-year when compared to the N2,155.97 recorded in February 2018, the NBS added.

According to the Liquefied Petroleum Gas (Cooking Gas) Price Watch – February 2019, which was posted on its website yesterday, states with the highest average price for refilling a 5kg gas cylinder included Bauchi N2,500.00, Cross River N2,450.00 and Adamawa/Borno N2,400.00.

On the other hand, Osun with N1,811.11, Kaduna N1,725.00 and Enugu N1,680.00 represented states with the lowest average price for the refilling of a 5kg cylinder of cooking gas.

Similarly, the average price for refilling a 12.5kg cylinder for cooking gas decreased by -0.77 per cent (month-on-month) and -2.04 per cent (year-on-year) to N4,244.91 in February 2019 from N4,277.86 in January 2019, the statistical agency stated.

It pointed out that Akwa Ibom with N4,700.00, Abia N4,688.89 and Cross River N4,759.09 were states with the highest average price for the refilling the 12.5kg cylinder if cooking gas while Oyo N3,805.88, Ogun N3,835.71 and Kano N3,775.00 paid less.

In the same vein, the average price per litre paid by consumers for household kerosene decreased by -0.27 per cent month-on-month to N305.55 in February compared to N306.28 in January as well as increased by 5.85 per cent (year-on-year) when compared to the N288.57 recorded in February 2018.

Plateau with average price of N335.55, Anambra N332.22 and Enugu N329.17, had the highest average price per litre of kerosene for the period while Gombe N265.74, Niger N268.42 and Lagos N274.35 paid the lowest average price per litre of kerosene.

According to the National Household Kerosene Price Watch (February 2019) also released yesterday, the average price per gallon paid by consumers for household kerosene increased by 2.71 per cent (month-on-month) and 15.90 per cent (year-on-year) to N1209.73 in February from N1187.75 in January.

States with the highest average price per gallon of kerosene were Jigawa N1331.25, Borno N1325.00 and Katsina N1305.00. while those with the lowest average price per gallon of kerosene were Niger N1,110.00, Kogi N1,051.43 and
Bayelsa N1,105.00.

THISDAY findings however showed that Nigerians often pay more for cooking fuels at retail outlets.

Source: THISDAY

The post Nigerians paid more for cooking gas, kerosene in February appeared first on Energy News | Oil and Gas News.

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The Group Managing Director of the Nigerian National Petroleum Corporation, Dr Maikanti Baru, has said the passage of the four components of the Petroleum Industry Bill, which is expected to usher in a new legislation, will change the fortunes of the nation’s oil and gas sector for the better.

Baru said the passage of the bill would enhance the investment climate in the country, called on foreign investors to explore the Nigerian ultra-deep terrain, which he described as largely untested.

He noted that a prolific one billion barrels of crude oil find was recently made at the Owowo field, offshore Nigeria.

He further stated that more than 41 billion barrels of crude oil and 319 trillion cubic feet of gas were yet to be discovered in Sub-Saharan Africa.

Baru noted that from available information, the African global crude oil and gas outlook remained positive and on the upward trajectory, adding that West Africa as the sub-region held the ace in terms of offshore deep water exploration hot spots.

The NNPC boss disclosed this during a special session on Africa, entitled, ‘Foundations for New Investment,’ at the ongoing 19th CERAWeek Conference taking place in Houston, United States.

Baru told his audience that in Nigeria NNPC was currently drilling Kolmani River-II Well in the Benue Trough, one of Nigeria’s several frontier inland Basins with about 400 billion standard cubic feet of gas expected to be encountered.

The occasion, according to a statement from the NNPC on Thursday, also provided an opportunity for Baru to make a case for the domestication of oil and gas technologies within the African continent.

The NNPC GMD said, “It is my belief that domesticating these cutting-edge technologies will develop the capacity of our people, improve our economies and emplace our national oil and gas companies on the path of sustainable growth and development.”

He said African countries must react positively to the new reality by deploying policies and stabilise their business environment to attract meaningful investments.

He informed delegates at the conference that the NNPC was opening up its business environment to ensure transparency and accountability in its dealing with all stakeholders.

Ministers and high level energy executives from Mali, Somalia, Namibia and Uganda were among panelists at the special session.

Organised by IHS Markit, CERAWeek is a global platform on energy trends and public policy where over 4,000 oil and gas experts convene annually to debate the future of oil, natural gas, renewable energy, power and new technologies.

Source: The Punch

The post PIB passage set to transform Nigeria’s oil industry – NNPC GMD appeared first on Energy News | Oil and Gas News.

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There are indications that crude oil imports from Nigeria could be further threatened with the country’s highest oil buyer, India, signing an agreement to import 0.6 million barrels of oil from the United States

India was Nigeria’s top crude oil buyer in five of the last six years.

Nigerian and Angola crude oil cargoes were said to be clearing slowly on Thursday in lacklustre demand with programmes due to emerge next week, with about 30 Nigerian cargoes from April loading programme still available, according to a Reuters.

A recent report by Energy Information Administration, EIA, quoted by analysts at CSL Stockbrokers Limited, showed a gradual decline in crude oil imports by the United States to an average of 7.7 million barrels per day in 2018 from a high of 10.1 million bpd in 2005.

According to the analysts, the development was occasioned by growing shale oil production with the US achieving the status of the top oil producer in 2018.

“This development has had severe impact on US crude import from Nigeria,” the analysts added.

According to the EIA report, between 2014 and 2015, before and shortly after the decline in oil prices, there were months that US imported no crude oil from Nigeria.

The CSL analysts said high production cost of shale oil coupled with the slump in global oil prices caused capital expenditure into shale production to decline substantially, forcing the US to ramp up imports from countries like Nigeria.

“However, following the recovery in oil prices in 2018, US shale production ramped up and consequently impacted imports from Nigeria. US crude oil import from Nigeria slumped 43.3 per cent from 112.9 million barrels in 2017 to 64.1 million barrels in 2018,” they said.

According to the EIA data, US crude imports from Nigeria declined year-on-year in each quarter with the third quarter recording the steepest decline, down 77.8 per cent to 5.5 million barrels (lowest in 12 quarters).

“Going forward, with stability in oil price, we think US would be able to sustain and possibly ramp up shale oil production which could further impact crude import from Nigeria,” the analysts added.

Source: Ripples

The post Nigeria’s crude oil export threatened as 30 cargoes remain appeared first on Energy News | Oil and Gas News.

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The International Energy Agency, IEA, has predicted that the United States is set to drive the global oil supply growth over the next 5 years, following its progressive shale industry which is triggering a rapid transformation of world oil markets.

The Agency, said in its just released annual oil market forecast that by the end of the forecast, oil exports from the United States will overtake Russia and close in on Saudi Arabia, bringing greater diversity of supply.

While global oil demand growth is set to ease, in particular as China slows down, it still increases an annual average of 1.2 million barrels per day, mb/d to 2024, according to the report, Oil 2019.

The IEA however, sees no peak in oil demand, as petrochemicals and jet fuel remain the key drivers of growth, particularly in the United States and Asia, more than offsetting a slowdown in gasoline due to efficiency gains and electric cars.

“The second wave of the US shale revolution is coming,” IEA Executive Director Fatih Birol said. “It will see the United States account for 70 per cent of the rise in global oil production and some 75 per cent of the expansion in LNG trade over the next five years. This will shake up international oil and gas trade flows, with profound implications for the geopolitics of energy,” he said.

The report said the global oil markets are going through a period of extraordinary change, with long-lasting implications for energy security and market balances throughout our forecast period to 2024.

The ability of the US shale industry to respond quickly to price signals by ramping up production has helped US transform into a major exporter within a decade. The United States accounts for 70 per cent of the total increase in global capacity to 2024, adding a total of 4 mb/d. This follows spectacular growth of 2.2 mb/d in 2018.

Iraq reinforces its position as one of the world’s top producers. As the world’s third-largest source of new supply, it also drives growth within OPEC to 2024. The increase will have to compensate for steep losses from Iran and Venezuela, as well as a still-fragile situation in Libya. The implications of these developments on energy security are significant and could have lasting consequences.

According to the report, in the longer term, security of supply is linked to upstream investment. Preliminary investment plans by major international oil companies indicate that upstream investment is set to rise in 2019 for the third straight year. For the first time since the 2015 downturn, investment in conventional assets could increase faster than for the shale industry.

In the downstream sector, product markets are on the eve of one of the biggest shakeups ever, with the implementation of the International Maritime Organisation’s new rules governing bunker fuel quality in 2020. Although the shipping and refining industries have had several years notice, there have been fears of shortfalls when the rules come into effect.

The US shale revolution is also altering the picture for refiners. These barrels are generally lighter and sweeter than the average crude slate, which means they require less complex refining processes to turn them into final products.

Source: Oriental News

The post US to lead global oil supply growth over next 5 years – IEA appeared first on Energy News | Oil and Gas News.

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OPEC’s secretariat urged oil producers to keep going with efforts to prevent a surplus this year, as supplies from their rivals increase faster than world demand.

Key OPEC members and their allies will meet this weekend in Baku, Azerbaijan, to review output curbs they’ve been implementing to avert a supply glut and defend oil prices. Their agreement is due to expire at the middle of the year. In its monthly report, OPEC’s Vienna-based secretariat encouraged them to continue the strategy.

“While oil demand is expected to grow at a moderate pace in 2019, it is still well below the strong growth expected in the non-OPEC supply forecast for this year,” it said. “This highlights the continued shared responsibility of all participating producing countries to avoid a relapse of the imbalance and continue to support oil-market stability in 2019.”

A rally in oil prices during the first six weeks of the year has slowed on concerns that record U.S. shale production, a slowing global economy and the prolonged U.S.-China trade dispute could lead to a pile-up of unwanted crude. Brent futures traded below $68 a barrel in London on Thursday.

After the review meeting on March 17 and 18, ministers from the so-called OPEC+ alliance will gather in Vienna next month, and again in June, to decide on output policy for the second half of the year. The coalition spans 24 nations, including OPEC members as well as other producers such as Russia and Kazakhstan.

In its monthly report, the Organization of Petroleum Exporting Countries trimmed forecasts for world oil demand and boosted projections for non-OPEC supply, particularly in the second half of the year. As a consequence, it indicated the risk of a renewed surplus emerging in the fourth quarter, even as the group’s output declines as a result of planned and involuntary cutbacks.

February output

Production from OPEC’s 14 members dropped by 221,000 bpd to 30.55 MMbpd in February, according to the report. Although that reflected deliberate reductions by Saudi Arabia, Iraq and Kuwait as they implement the deal to balance markets, the single biggest decline was in Venezuela, which is being roiled by economic turmoil and American sanctions.

Output from the Latin American nation slumped by 142,000 bpd in February to just over 1 MMbpd, the report showed. The country’s crisis appeared to enter a new phase this week, with widespread electricity blackouts hitting oil-production facilities.

If OPEC keeps production at current levels, global oil inventories should tighten during this quarter and the next, the report indicated. But a glut could re-emerge in the fourth quarter when demand for OPEC’s crude will be about 720,000 bpd lower than the group’s current output.

Source: World Oil

The post OPEC urges oil producers to prevent return of surplus in 2019 appeared first on Energy News | Oil and Gas News.

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THE price of Bonny Light, Nigeria’s premium oil grade has risen from $66.00 to $67.48 per barrel, the highest in recent times, as the Organisation of Petroleum Exporting Countries, OPEC; continue to eliminate excess oil from the global market.

This showed an excess of $6.48 against the $60 per barrel reference price of the nation’s 2019 budget. The price of other crude oil grades – Brent, WTI and OPEC Basket – stood at $67.69, $58.45 and $66.30 in the market. Meanwhile, OPEC that has been encouraging members, including Nigeria to cut output has given impression that the market would be stable in the coming months.

Speaking in Washington DC, USA, March 8, 2019, HE Mohammad Sanusi Barkindo, OPEC Secretary General, stated: “We have seen plenty of ups and downs for the oil industry in the decades that followed, too many to fully elaborate on over a lunch! It is clear that cycles are part of the market’s ever-evolving nature and we cannot eliminate the ups and downs of these altogether. However, we can look to help smooth the passage of the cycles through focusing on a balanced market, and helping support a stable environment.

“It is also important to remember that cycles today have a far wider and greater impact than they did during the times of Edwin Drake. Today, the size, scope, and complexity of the global oil market make it almost unique among physical commodities. Currently close to 100 million barrels of oil are produced and consumed every day, and over 60 million barrels are exported. Moreover, the importance of oil and the crucial role that it plays globally make it perhaps the most strategic growth engine of the global economy.

“Oil is the lifeblood that fuels the current civilization and keeps modernization moving. This further reinforces the point I made earlier: the true scale of the industry and its strategic value to both producers and consumers underscores the importance of sustainable oil market stability.

“It was still a dark time for the industry, which had been greatly impacted by the severe three-year downturn from 2014-2016. However, if you permit me to say, there was a chink of light. My visit came only a few days after we had put together the landmark ‘Declaration of Cooperation’ in Vienna between 24 OPEC and non-OPEC producing nations.”

Source: Vanguard

The post Bonny light price rises to $67.48 per barrel appeared first on Energy News | Oil and Gas News.

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Twelve ships carrying various products have arrived at Apapa and Tin-Can Island ports, waiting to berth, the Nigerian Ports Authority said in its daily publication on Wednesday in Lagos.

The shipping position of the NPA is a document that shows the volume and types of cargoes that are brought into the country on a daily basis.

It also shows the type of vessels involved in the affreightment of the goods just as it also indicates the ports of discharge and the shipping agencies attached to the vessels.

The NPA said four of the vessels contained petrol while the remaining eight ships would berth with containers, general cargo and diesel.

A News Agency of Nigeria report quoted the NPA as saying that 20 ships carrying buckwheat, frozen fish, bulk sugar, container, buckwheat, general cargo, frozen fish and petrol were expected at the ports between March 12 and March 29.

The PUNCH had earlier reported that in January and February 2019, Nigeria imported a total of 986, 492 metric tonnes of petroleum products representing 1,387,410,984.2 litres of fuel.

Frozen fish topped the nation’s imports for the month of February, as the country reportedly imported 2.463 million metric tonnes of the product in the month under review.

The figures also showed that the fuel import in January was higher than February as a total of 705, 185 MT of fuel was imported compared to only 281,297 MT imported in February.

According to the shipping position document, 24, 266 MT of Aviation Turbine Kerosene, which is also known as Jet A1 of aviation fuel was imported during the period under review against 98,512 MT of Automotive Gas Oil, otherwise known as diesel, imported in the same period.

A breakdown of the figure also showed that while a total of 902,392 MT came through the Lagos ports, 84, 100 MT was brought into the country through the Calabar port.

The shipping position also indicated that Premium Motor Spirit (petrol), led other petroleum products.

Other imports topping the chart include bulk sugar with 318,400 MT and wheat with a total of 263, 552 MT in the last two months.

For general cargoes, a total of 126,119 MT were recorded for both months, while 118, 688 MT was recorded in February, 7,431 MT came into the country in January.

A further breakdown of the figure showed that frozen fish recorded 23,165 MT as against 15, 344 MT of containerised cargoes, while bulk salt import stood at 23 MT.

Source: The Punch

The post Twelve ships berth at Lagos ports with petrol, others appeared first on Energy News | Oil and Gas News.

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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has stated that more than 41billion barrels of crude oil and 319trillion cubic feet of gas are yet to be discovered in Sub-Saharan Africa.

The NNPC GMD stated that from available information, the African global crude oil and gas outlook remained positive and on the upward trajectory, saying the West Africa as the Sub-Region held the ace in terms of offshore Deep Water exploration hotspots.

Dr. Baru made this disclosure during a special session on Africa, entitled: “Foundations for New Investment”, at the ongoing 19th CERAWeek Conference taking place in Houston, United States Wednesday.

He stated that a prolific 1.0Billion barrels of crude oil find was recently made at the Owowo field, offshore Nigeria.

He called on foreign investors to explore the Nigerian Ultra-Deep terrain which he described as largely untested.

Dr. Baru told his audience that in Nigeria NNPC was currently drilling Kolmani River-II Well in the Benue Trough – one of Nigeria’s several frontier inland Basins with about 400 Bcf of gas expected to be encountered.

The occasion also provided an opportunity for the NNPC GMD to make a case for the domestication of oil and gas technologies within the African continent.

He said: “It is my belief that domesticating these cutting-edge technologies will develop the capacity of our people, improve our economies and emplace our national oil and gas companies on the path of sustainable growth and development.”

According to the GMD, African countries must react positively to the new reality by deploying new policies and stabilize their business environment to attract meaningful investments.

He said critical to achieving that for Nigeria was the passage of the four components of the Petroleum Industry Governance Bill (PIGB) which is expected to usher in a new legislation that will not only enhance the investment climate in the country, but also change the fortunes of the nation’s oil and gas business for the better.

Baru informed delegates at the conference that the NNPC was opening up its business environment to ensure transparency and accountability in its dealing with all stakeholders.

He also lauded the Federal Government for its peace initiatives in the Niger Delta communities which he said had seen the country hitting very high oil and gas production figures in recent years.

Ministers and high level energy executives from Mali, Somalia, Namibia and Uganda were among panelists at the Special Session.

Organised by IHS Markit, CERAWeek is a global platform on energy trends and public policy where over 4,000 oil and gas experts convene annually to debate the future of oil, natural gas, renewable energy, power and new technologies.

Source: NNPC

The post 41bn barrels crude, 319tcf gas untapped in Nigeria – NNPC boss appeared first on Energy News | Oil and Gas News.

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Eland Oil & Gas PLC (AIM:ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to announce the results of a new competent persons report (“CPR” or “Report”) provided by Netherland, Sewell & Associates Inc. (“NSAI”) as at 31 December 2018.

OML 40 licence

· Gross OML 40 Reserves, following 2018 gross production of 6.5 million barrels of oil:
Proved (“1P”) of 42.9 million barrels (“MMB”), an increase of 8% since the 31 December 2017 CPR
Proved plus Probable (“2P”) of 82.2 MMB, a 1% decrease
Proved plus Probable plus Possible (“3P”) of 116.8 MMB, a 1% decrease
· Eland’s Net (Entitlement*) Present Value at a10% discount rate with a flat price deck of $71.16 per barrel of oil
1P of US$ 473.9 million, an increase of 68.2%
2P of US$ 568.9 million, an increase of 35.7%
3P of US$ 620.7 million, an increase of 28.1%

* Net entitlement is based on treating Eland funding of the Starcrest Nigeria Energy Limited share of Elcrest E&P Nigeria Limited as a carried working interest, resulting in an Eland participating interest of 45 percent before payout of the loans and 20.25 percent after payout.

Since the previous independent CPR for OML 40 which had an effective date of 31 December 2017, the Opuama field has produced 6.5 million gross barrels of oil.

Despite record Opuama field production, proved oil reserves increased by 3.3 million barrels. The minor reduction in 2P reserves reflects that the Opuama field proved plus probable reserves replacement, as a result of the 2018 drilling campaign, has been limited to approximately 80% of production volumes. Eland will continue to assess reservoir performance of the current well stock with a view to identifying volumetric upside potential, particularly in the flank areas of the field.

NSAI has also increased its estimates of Contingent Resource (2C) for OML 40 by 25% from 40.4 million barrels to 50.7 million barrels of oil gross. This increase follows a re-evaluation of the 1989 Abiala-1 discovery leading to an upward revision from 16.1 million barrels to 26.4 million barrels gross of oil. Eland expects to drill an appraisal well on Abiala in 2020. The upside (3C) estimate for Abiala is 80.5 million barrels gross recoverable.

The 2P NPV10Net (Entitlement*)ascribed in the CPR of $569 million has risen significantly from the prior year. This change is mainly driven by commercial and development assumptions, such as a higher oil price deck, updated work programme and development costs, changes in the fiscal tax rate and for the first time the value of Elcrest’s tax losses incurred while the Company was in Pioneer status. The tax losses, including capital allowances, as at 31 December 2018 will be utilised over the coming years with the effect of deferring Petroleum Profits Tax (PPT) payable in Nigeria. In addition, it is the view of our tax advisors that the Company will benefit from the existing new entrant tax rate of 65.75% for five years following the end of Pioneer status period which ends on 30 April 2019. The NSAI report previously included the assumption that the Company would be liable for Petroleum Profits at 85% following the end of Pioneer status.

Ubimalicence(Eland Working Interest 40%)

· Gross Ubima Reserves
Proved (“1P”) of 6.2 million barrels, an increase of 634%
Proved plus Probable (“2P”) of 9.3 MMB, an increase of 285%
Proved plus Probable plus Possible (“3P”) of 13.1 MMB, an increase of 298%
· Eland’s Net (Entitlement) Present Value at a10% discount rate with a flat price deck of $71.16 per barrel of oil
1P of US$ 17.2 million, an increase of 673%
2P of US$ 31.4 million, an increase of 200%
3P of US$ 39.7 million, an increase of 165%

The most recent CPR for the Ubima licence had an effective date of April 2016. At this time AGR TRACS International Limited estimated gross 2P reserves of 2.4 million barrels of oil. In 2018 Eland and its partner successfully re-entered and tested the Ubima-1 discovery well. The new CPR by NSAI estimates gross 2P reserves of 9.3 million barrels representing an almost fourfold increase. NSAI also calculates an NPV net to Eland of over $31 million compared to $10m in the previous CPR.

Aggregated across both licences, the 1P and 2P Reserves Replacement Ratio are 233% and 188% respectively.

George Maxwell, CEO of Eland, commented:

“I am pleased to announce updated CPRs for the Company’s OML 40 and Ubima licences. These show great progress in both licences, is a testimony to the high quality of the assets and also the significant investments we have made in each. After such a successful year with record production volumes it is very satisfying to record a 2P Reserves Replacement Ratio of 188%.

We have always believed that OML 40 had significantly more to offer than simply the Opuama and Gbetiokun fields. We will be drilling our first near field exploration well on the licence later this year with the Amobe prospect, followed next year by appraisal drilling on Abiala. These two wells have the potential to more than double the licence’s current 2P reserves base. At Ubima, I look forward to the initial phase of development for this field in 2019 following the fourfold increase in reserves estimates.”

I am delighted that the CPRs ascribes a value for Eland’s share of 2P reserves in OML 40 and Ubima of approximately $600 million, suggesting there is still material potential upside within the Company”.

Source: Eland Oil & Gas

The post Eland sees oil reserves in OML 40 increase appeared first on Energy News | Oil and Gas News.

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The Group Managing Director of the Nigerian National Petroleum Corporation ( NNPC ), Dr. Maikanti Baru, has called for more integration among countries within the West African sub-region towards providing lasting solutions to the region’s numerous energy challenges.

Baru made the call during a meeting with the United States Energy Secretary, Rick Perry and some African petroleum ministers, on the sidelines of the 19th CERAWeek Conference taking place in Houston, United States.

NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, in a release in Abuja Thursday, said Dr. Baru disclosed at the meeting that energy integration across the sub-region was necessary as it would drastically reduce unemployment and restiveness as well as improve the economies of the affected countries.

“Nigeria as a regional leader has already encouraged regional integration by first putting up the West African Gas Pipeline (WAGP) to ensure gas is available to West Africa. We are also doing the Trans Sahara Gas Pipeline (TSGP), even as we are intent on extending the WAGP to Morocco,” Baru told the US Energy Secretary at the occasion.

He said the intent was to come up with a West African Power Pool that would put up power plants and other gas-based industries along those areas within the respective countries.

The GMD said Nigeria’s crude oil production had seen tremendous improvement in recent years, due to Federal Government’s laudable efforts in ensuring security in the Niger Delta region.

He said Nigeria and US had been very good partners with about $35bn worth of trade between the two countries.

Earlier in his remarks, the United States Secretary of Energy, Rick Perry, expressed his country’s commitment towards helping Africa achieve energy independence for the benefit of their people.

“For our part we will support progress by engaging economically as well as championing open markets in societies. We endorse the modernization of critical oil and gas infrastructure which leads to better security and diversification of energy supplies and exports,” he noted.

Describing innovation as the surest path to energy security, Perry added that once countries innovate, they are greeted with greater economic growth, opportunities and national security.

“We support efforts to improve the regional interconnectivity. We also see energy access as critical to increasing prosperity and combating the cycle of poverty,” he added.

He said as the number one producer of oil and natural gas in the world, the US was more than well-positioned to not only share its resources, but also its technology and know-how.

He said his country would work towards transforming the Africa’s domestic energy systems so that it would provide power, create jobs, foster development, open up new opportunities and improve almost every facet of human existence on the continent.

“The US is very eager to share its energy resources and expertise with the African continent. As we go forward, we want to be a desired partner in ensuring that the global energy markets are supplied with the diversity of energy sources,” he stated.

Other Ministers and high level energy executives from African countries such as Ghana, Mali, South Sudan, Namibia, Kenya, Uganda and Sierra Leone participated in the meeting.

Source: The Nation

The post NNPC boss calls for energy integration in Africa appeared first on Energy News | Oil and Gas News.

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