Don’t halt investments in gas, FG warns oil firms


ABUJA— The Federal Government, yesterday, warned oil companies against halting their investments in the gas industry in response to the challenges brought about by the volatility in the industry.
In a statement from the Nigerian National Petroleum Corporation, NNPC, in Abuja after the Third Summit of Heads of State and Government of the Gas Exporting Countries Forum,  GECF,  Member Countries in Tehran, Islamic Republic of Iran, President Muhammadu Buhari assured the GECF of its continuous support as it struggles to surmount the challenges that the global oil and gas industry is facing.
Buhari noted that trying times call for more cooperation and coordination among member countries, while thanking President Hassan Rouhani of Iran for the invitation to discuss issues affecting the GECF and reaffirm commitment to the objectives of the Forum.
Also speaking, GECF President and Nigeria’s Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, identified market volatility, increasing competition, price war and escalating cost of infrastructure development as the key challenges facing the gas industry in general and the GECF in particular.


Check the Vanguard newspaper for the full story.




























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