• FG targets 10bn cubic feet daily gas production in 3 years

    FG targets 10bn cubic feet daily gas production in 3 years

    According to reports, the federal government said it will increase the country’s natural gas production to 10 billion standard cubic feet per day (bscfd) by 2019 with the implementation of the new roadmap for the oil and gas industry, tagged 7 Big Wins.

    The current average daily production is 6.8bscf.

    The government also said it had secured over $2 billion commitment from potential investors in the Gas Export Processing Zone (EPZ) in Delta State.

    The minister of state for petroleum resources, Ibe Kachikwu, […]

  • Buhari to launch $10bn Niger Delta Reconstruction Fund

    Buhari to launch $10bn Niger Delta Reconstruction Fund

    According to reports, the federal government under the watch of President Muhammadu Buhari plans a $10 billion infrastructure development fund for the oil-rich but restive Niger Delta, the Minister of State for Petroleum, Dr. Ibe Kachikwu, said yesterday in Abuja.

    “We are launching $10 billion infrastructural rebirth investment programmes in the Niger Delta region. This is not money that is going to come strictly from the federal government. It is going to come from investors, individuals who are ready to do […]