Post #356

You Don't Know What Real Bureaucracy Is🖨 Three years after the relaunch of a flare-gas-for-sale programme, Nigerian officials have finally got around to printing 28 licences 🌐 Nigeria’s upstream petroleum regulatory commission has just issued permits to 28 companies to access and sellassociated gas. ❓ Associated gas is usually produced at oil fields together with crude but burned off in flares as oil producers deem it unprofitable — so the idea is to involve other companies in this task, so as to make the gas available to people and industry. 📈 At a ceremony on Friday, the head of the commission, Gbenga Komolafe, rushed to boast that measures aimed at commercialising associated gas would lead to: 🔴 The creation of 100,000 jobs 🔴 The production of 170,000 metric tonnes of liquefied petroleum gas annually to supply roughly 1.4 million households 🔴 And the attraction of up to $2 billion in investment ⏳ Most likely, such results are expected sometime around the year2100 or 2300, since Friday’s event was about issuing licences to those who had submitted their applications back in 2022. Already in October 2023 the authorities said that 42 companies had successfully passed the same tender, but 14 apparently did not have the patience to wait. 🔸 Meanwhile, according to World Bank data, Nigeria remains one of the world’s top countries, alongside the US, Russia and Iran, in terms of the flared gas volumes. In 2023 and 2024 these volumes only increased. ➡️ Follow to stay informed - @devilsbelow