The Federal Government has declared that Nigeria has lost its most valued crude oil customers, while some of its gas buyers now compete with the country in the same market.
The government who disclosed this through its Nigerian Midstream and Downstream Petroleum Regulatory Authority at the opening ceremony of the Midstream and Downstream Petroleum Industry HSE Managers’ Forum in Abuja, also stated that international oil companies were massively shifting focus to alternative fuels, as the threat posed by the push for renewables was seriously gaining momentum.
The Chief Executive, NMDPRA, Farouk Ahmed, who was represented by the agency’s Executive Director, Hydrocarbon Processing Plants, Installations and Transportation Infrastructure, Francis Ogaree, urged operators in the oil sector to try and move along with the changes in industry globally