Nigeria's Energy Sector Boosts with New Discoveries

Nigerias energy sector poised for significant boost with potential new oil and gas discoveries, estimated to unlock 1.7 billion barrels of oil and 7.7 trillion cubic feet of natural gas. Major investment decisions made for Bonga North, Ubeta Gas, and HI Gas projects, with Shell leading two. National oil company aims to increase daily oil production to 2 million barrels within two years, then to 3 million by 2030. However, oil theft and pipeline vandalism have resulted in a staggering loss of $300 billion, hampering investment and production.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.