Monday, May 17Inside Business Africa
Shadow

Tag: AfriTaL

Again, unions advocate NLNG model for refineries resuscitation

Again, unions advocate NLNG model for refineries resuscitation

Business
With refineries underperforming and recording recurring losses, advocacy groups in the oil and gas industry have urged the Federal Government to apply the Nigeria Liquefied Natural Gas (NLNG) ownership and operating model to resuscitate the nation’s refineries. According to them, the success of the NLNG model is a pointer to ways the country can maximise the country’s national assets. They argued that the lack of significant investment in the petroleum industry continues to limit the overall contribution of the sector to economic growth and development. NLNG is an incorporated Joint Venture owned by four shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings Franc...