There seems to be major concern for
This was the submission of stakeholders at the first
Dangote refinery will fix
The development has forced petroleum producing countries in
While speaking on the theme: "Pan-African Strategy Towards Sustainable Funding of
"This move was necessitated by the refusal of international finance institutions to approve funding for development of hydrocarbons due to the global push for transition to cleaner sources of energy," he said.
Sylva, who was represented by Dr Nasir Sani-Gwarzo, Permanent Secretary,
He said: "Without doubt, the emerging trend is that leading multinational financial institutions are factoring Environmental, Social, and Corporate Governance, ESG, in their lending decisions.
"The seeming freezing of equity investment in upstream field development projects by International oil companies is a wakeup call for
"Governments of
"Dearth of funds, limitations in technology mastery, high-end skills gap, undeveloped internal market for hydrocarbon derivatives and inadequate energy infrastructure are some of the challenges facing the industry.
"
European banks pulling out of devt projects --NCDMB
Also speaking, NCDMB, Executive Secretary, Mr Simbi Wabote, stated: "I recall that we held the African Local Content Roundtable in Yenagoa, Bayelsa State, sometime last year where we discussed some key points on how to move the African oil and gas industry forward.
"This forum is a follow-up discussion to close out one of the key action points from the ALCR. Here, we will seek to kick-start the development of a framework for establishing a pool of funds for funding major oil and gas projects and attraction of investors into the industry."
We need to setup AEICorp --APPO
The Secretary General, APPO, Dr
He called for the setting up of an
Ibrahim said: "We are realistic. AEICorp cannot do it alone. No financial institution in
"If we see energy security as critical to our national security, we should enact laws that provide for a portion of windfalls from oil and gas sales to be re-invested in the industry.
"We need to find a way or ways of getting African oil and gas producing countries' governments to commit a certain percentage of the windfalls to a special fund for the sustenance of the oil and gas industry during the transition period."
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