From Okwe Obi, Abuja
Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, has said the Federal Government would define its terms on energy transition.
Lokpobiri, stated this at the panel session on Day 3 of the ongoing 2024 Nigerian International Energy Summit (NIES) in Abuja yesterday.
He said Nigeria was not against transition but would transit in a more environmentally friendly and sustainable way. “You can never find any better climate for oil businesses than Nigeria”, he noted.
The Minister reiterated the government’s to provide support and create an enabling environment for oil companies and businesses to thrive.
Also, Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo restated the adoption of gas by the Federal Government as its transition fuel.
The Chairman, Independent Petroleum Producers Group (IPPG), Abdurazaq Isa, in his address expressed optimism that the panelists would dissect key issues and proffer pragmatic solutions to some of the critical challenges facing the oil and gas industry.
The Chairman, Oil Producers Trade Section (OPTS), Osagie Okunbor, noted that the diversification of supply sources had created opportunities for companies and countries to expand into new markets.
This, he said, presented a significant opportunity for Nigeria.
At a panel session, representatives of national oil companies and delegates from Ghana, South Africa, Namibia and The Gambia, discussed their roles as energy leaders in navigating the challenges and opportunities presented by the evolving global energy landscape and the financial dynamics shaping the industry’s future.
Panelists included the General Manager, Corporate Affairs Strategic Fuel Fund, Natalie Taft; Group Managing Director, Gambia National Petroleum Commission, Baboucarr Njie; General Manager Finance, Nigeria Lequified Natural Gas (NLNG), Fatima Adanan; General Manager, Strategy and Investments, Ghana National Petroleum Corporation, Dr. Kwame Baah-Nuakoh; Chief Geoscientist, National Petroleum Corporation of Nambia, Anthony Chatu, among others.