* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, August 22, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    What Are Our Predictions for Taylor Swift’s ‘Life of a Showgirl’ Based on What She’s Told Us So Far? – yahoo.com

    Uncover the Hidden Surprises in Taylor Swift’s ‘Life of a Showgirl’ – Can You Decode Her Clues?

    Bama Dining Serving Up New Food, Entertainment – UA News Center

    Bama Dining Launches Thrilling New Food and Entertainment Experiences

    The latest on Williams-Brice Stadium renovations, entertainment district – On3

    Discover the Thrilling New Upgrades Coming to Williams-Brice Stadium and Its Vibrant Entertainment District!

    1000+ Entertainment Leaders Release Open Letter Criticizing TIFF’s Handling of Film – Creative Community for Peace

    1000+ Entertainment Leaders Release Open Letter Criticizing TIFF’s Handling of Film – Creative Community for Peace

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Hyundai: The Only Way To Beat China Is To Embrace Technology – InsideEVs

    Hyundai’s Bold Strategy to Outpace China with Cutting-Edge Technology

    Teaching older adults how to use technology – WWNY

    Empowering Older Adults to Master Technology with Confidence

    Denver man receives pacemaker using new technology – CBS News

    Denver Man’s Life Transformed by Revolutionary Pacemaker Technology

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    YSU to celebrate launch of new radiology technology program – WKBN.com

    YSU Launches Exciting New Radiology Technology Program Celebration

    Thaddeus Stevens College of Technology kicks off return to school for Lancaster County colleges [photos] – LancasterOnline

    Thaddeus Stevens College of Technology Kicks Off an Exciting New School Year for Lancaster County Colleges [Photos]

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    What Are Our Predictions for Taylor Swift’s ‘Life of a Showgirl’ Based on What She’s Told Us So Far? – yahoo.com

    Uncover the Hidden Surprises in Taylor Swift’s ‘Life of a Showgirl’ – Can You Decode Her Clues?

    Bama Dining Serving Up New Food, Entertainment – UA News Center

    Bama Dining Launches Thrilling New Food and Entertainment Experiences

    The latest on Williams-Brice Stadium renovations, entertainment district – On3

    Discover the Thrilling New Upgrades Coming to Williams-Brice Stadium and Its Vibrant Entertainment District!

    1000+ Entertainment Leaders Release Open Letter Criticizing TIFF’s Handling of Film – Creative Community for Peace

    1000+ Entertainment Leaders Release Open Letter Criticizing TIFF’s Handling of Film – Creative Community for Peace

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Hyundai: The Only Way To Beat China Is To Embrace Technology – InsideEVs

    Hyundai’s Bold Strategy to Outpace China with Cutting-Edge Technology

    Teaching older adults how to use technology – WWNY

    Empowering Older Adults to Master Technology with Confidence

    Denver man receives pacemaker using new technology – CBS News

    Denver Man’s Life Transformed by Revolutionary Pacemaker Technology

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    YSU to celebrate launch of new radiology technology program – WKBN.com

    YSU Launches Exciting New Radiology Technology Program Celebration

    Thaddeus Stevens College of Technology kicks off return to school for Lancaster County colleges [photos] – LancasterOnline

    Thaddeus Stevens College of Technology Kicks Off an Exciting New School Year for Lancaster County Colleges [Photos]

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Nigeria expects $20bn foreign direct investments as oil projects get green light

July 12, 2023
in Business
Nigeria expects $20bn foreign direct investments as oil projects get green light
Share on FacebookShare on Twitter

Nigeria’s oil sector may see between $18 and $20 billion worth of investments as oil companies try to restart previously abandoned projects and quicken the pace on delayed projects due to improved terms, the head of a division of the state-oil firm has said.

Bala Wunti, head of Nigerian Petroleum Investment Company (NAPIMS) in remarks made at an oil conference in Abuja said projects like Agbami gas, and Exxonmobil’s Owowo field among others have seen renewed commitments from investors.

“We are significantly advancing on the Agbami gas project, which is bringing in a significant couple of billions of foreign direct investments.

“On top of that, we all know the Owowo project, which Exxon has put in the freezer has been unfreezed courtesy of the PIA and removal of the PSC, put all these together we see an outlook of between this year and next year, of somewhere in the neighbourhood of between $18billion and $20 billion,” Wunti said.

The Nigerian government passed the Petroleum Industry Act after two decades of delays, which offers improved regulatory and fiscal terms for oil production arrangements, especially for those onshore fields where investors have fled due to crude theft, sabotage, and community agitations.

Last August, the Nigerian National Petroleum Company (NNPC) Limited signed a contract extension with its international oil companies partners for five major oil blocs. This also improved terms for agreements such as the Production Sharing Agreement, Dispute Settlement Agreement, Settlement Repayment Agreement, and Escrow Agreement.

These efforts to remove barriers to investments, it seems, are crystalising into new investments as about 20 oil rigs are said to be in production, according to Gbenga Komolafe, the chief executive of the Nigerian Upstream Regulatory Commission (NUPRC).

He said the commission has rolled out the regulation on measurement, the first of its kind since oil was discovered, to stem losses from oil production.

“By the time we implement the regulation, the ultimate objective is to actually monitor production on a real-time basis,” he said.

Earlier reports from the NUPRC states that 40 percent of crude oil losses in the Nigerian petroleum industry are due to measurement inaccuracies which this new regulation aims to curb.

In a newfound drive to convince investors, Komolafe said the Commission seeks to become business enablers, leveraging regulations to create an enabling environment for investments in Nigeria.

“We are creating regulatory incentives that makes issuances quicker in a manner that will shorten turnaround time and that will impact favorably on the unit cost of production because businesses are looked at on the basis of profitability,” he said

But some operators say the challenges have yet to be totally removed. Elohor Aiboni: Managing Director, Shell Nigeria Exploration and Production Company Ltd. said any investor that seeks to invest in a country ensures stability risk, funding, ethics, compliance, security, and regulatory risks are minimal.

Nigeria ranks low on these metrics. Insecurity is pervasive in the Niger Delta, oil theft is a menace and even the PIA took two decades to become law.

Operators say regulatory risks constitute their biggest challenge seen in multiple and duplicated rules, confusing fiscal systems that see the PIA provide tax incentives that are wiped off in the Finance Act.

Roger Brown, MD of Seplat Petroleum Development Company, said investors want clarity and stability.

“Clarity is setting the rules and sticking to the rules,” he said.

He wants a situation where the government sets the rules including legislation and regulations and ensure they are followed. Another critical enabler he noted is there must be efforts to prevent disruptions to production from community agitation.

A panel session at the Nigerian Oil and Gas Conference on Wednesday in Abuja, which brought together operators from both the government and private sector, featured frank conversations about ways to derisk investments.

“Like we all know, capital has no emotions at all, it will flow to where it will get the highest return, it will then begin to hear fruit, lots of fruits and that’s certainly what any investor is looking for,” said Aiboni.

While some investors are braving the waters restarting new projects, others are more cautious. According to Elohor, the PIA provided better terms for onshore oil reducing tax and royalties but action was still required to enact terms for gas that is not associated with oil drilling.

Tayo Akinkunmi, MD/Country manager at TechnipF said the coountry has succeeded when it has been extremely intentional about a project. An exmaple is the NLNG which enjoyed massive incentives from the Nigerian government against cries about the country giving away too much.

“If you look at the valuation of the NLNG today, it is in excess of the entire companies listed on the stock exchange. That’s a long-term gain that we have to be looking at. NLNG has paid over $20bn dividend to the Nigerian government,”

Akinkunmi said the country should focus on those deals that would become a game changer and provide deliberate incentives that can help those projects come on stream, foregoing bruising short-term instant gratification, like extracting maximum signature bonuses that will hamper financing to drill wells, for long-term value.

There are still several projects waiting on investment decisions in Nigeria such as 120,000bpd Zabazaba-Etan project; 140,000bpd Bosi project; 80,000bpd Satellite Field development phase two; 110,000bpd Uge project and 110,000bpd Nsiko deepwater project; 1billion barrel Owowo field developments.

megamillion

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Businessday.ng – https://businessday.ng/energy/article/nigeria-expects-20bn-foreign-direct-investments-as-oil-projects-get-green-light/

Tags: businessexpectsNigeria
Previous Post

Recording Academy announces entry dates for 66th Grammy Awards

Next Post

BREAKING: It Is Blackmail. Bala Mohammed Does Not Own Any Mansion In South Africa

‘Urgent action’ needed to protect workers from heat stress in warming world, UN says – Reuters

Urgent Action Needed to Shield Workers from Rising Heat Risks in a Warming World

August 22, 2025
The United States’ Biggest Vulnerability in the Trade War: Its Knowledge Economy – World Politics Review

The United States’ Greatest Weakness in the Trade War: Its Knowledge Economy

August 22, 2025
How to watch ‘F1: The Movie’ on Prime Video – About Amazon

Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

August 22, 2025
Willis Knighton Health in Louisiana joins Mayo Clinic Care Network – Mayo Clinic News Network

Willis Knighton Health Teams Up with Mayo Clinic Care Network to Elevate Patient Care in Louisiana

August 22, 2025
Focus on the Family James Dobson’s harsh Christianity changed GOP politics – MSNBC News

Focus on the Family James Dobson’s harsh Christianity changed GOP politics – MSNBC News

August 22, 2025

Sliteye Shark Discovered in Remote Indian Ocean – environment coastal & offshore

August 22, 2025
Summary of the 2025 GEDI Science Team Meeting – NASA Science (.gov)

Summary of the 2025 GEDI Science Team Meeting – NASA Science (.gov)

August 22, 2025
Hamilton to Launch Collegiate Science and Technology Entry Program – Hamilton College

Hamilton Unveils Exciting New Science and Technology Entry Program for College Students

August 22, 2025
Dating App Burnout Is Real But It Doesn’t Have to Be Your Reality, Love Bites with Lifestyle Coach Francesca Luca – WATD 95.9 FM

Beat Dating App Burnout: Expert Tips to Keep Your Love Life Thrilling with Lifestyle Coach Francesca Luca

August 22, 2025
Hyundai: The Only Way To Beat China Is To Embrace Technology – InsideEVs

Hyundai’s Bold Strategy to Outpace China with Cutting-Edge Technology

August 22, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (784)
  • Economy (805)
  • Entertainment (21,684)
  • General (16,613)
  • Health (9,845)
  • Lifestyle (817)
  • News (22,149)
  • People (806)
  • Politics (814)
  • Science (16,017)
  • Sports (21,303)
  • Technology (15,785)
  • World (786)

Recent News

‘Urgent action’ needed to protect workers from heat stress in warming world, UN says – Reuters

Urgent Action Needed to Shield Workers from Rising Heat Risks in a Warming World

August 22, 2025
The United States’ Biggest Vulnerability in the Trade War: Its Knowledge Economy – World Politics Review

The United States’ Greatest Weakness in the Trade War: Its Knowledge Economy

August 22, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version