Shell’s claim was based on a study commissioned by Compass Lexicon consultancy, which aimed to determine the extra revenue Venture Global had seemingly wrongfully earned by denying certain European customers their contracted cargoes.
“Dangote has not briefed us nor has the committee set up by the Federal Government reverted to us on what had been agreed.
Habib opined that oil and gas would remain key drivers of the global economy for at least the next 50 years.
Lokpobiri praised the company’s foresight in reshaping the industry’s narrative, where Nigerian companies were now competing with international oil companies, IOCs.
The success of this well has, for the first time, revealed the enormous potential of carbonate rocks in China’s ultra-deep waters.
The PIA terms are generally perceived as more investor-friendly, compared to the erstwhile PPTA terms.
Nigeria has more than 209 trillion cubic feet of gas reserves but loses over $1 billion in annual revenue due to gas flaring, government estimates show.
Rewane also predicted that the new price of petrol would increase the number of Nigerian citizens trapped in energy poverty to 168 million in 2025, from 161 million in 2023.
The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote fuel unless it was cheaper than that of the international market.
This is a partnership that spans decades with notable achievements across the power sector value chain in line with Nigeria’s goal of energy sustainability and economic development.
