NEW ROUND OF OIL BLOCS BID FOR INVESTORS NOT POLITICIANS- MINISTER. (PHOTO).
New Round Of Oil Blocs Bid For Investors Not Politicians — Minister The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said that the 17 oil blocs put forward for sale under the 2024 licensing bid round are not for politicians, but investors with financial capacity and technical competence. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, revealed this during a conference organised by the Petroleum Technology Association of Nigeria (PETAN), at the ongoing 2024 Offshore Technology Conference (OTC), in Houston, Texas U.S. According to him, the move forms part of the effort to drive investment and boost the nation’s economic fortunes. With the theme “Sustainable Energy Solutions for Africa’s Future (Nigerian Perspective), the Minister explained that in the past, the award of oil blocs culminated in the non-development of over 90 per cent of marginal fields. This, he said, denied the government of reaping the intended benefits becau
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