{"id":87237,"date":"2021-10-20T06:40:36","date_gmt":"2021-10-20T05:40:36","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=87237"},"modified":"2021-10-20T06:40:36","modified_gmt":"2021-10-20T05:40:36","slug":"oil-and-gas-buhari-rejuvenating-sector-after-years-of-weak-operation-apc-think-tank","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/oil-and-gas-buhari-rejuvenating-sector-after-years-of-weak-operation-apc-think-tank\/","title":{"rendered":"Oil And Gas: Buhari Rejuvenating Sector After Years Of Weak Operation &#8211; APC Think-tank\u00a0\u00a0"},"content":{"rendered":"<div id=\"m#msg-f:1714113702599587532\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">President Muhammadu Buhari has been credited with the rejuvenation of the oil and gas sector after decades of weak operation, the All Progressives Congress, Legacy Awareness and Campaign (APC-LAC) has said.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\" style=\"text-align: justify;\">\nThe group, which is a think-tank within the governing party further said the publication of Audited Financial Statements from 2018 to 2020, was the first-ever since the establishment of the NNPC over forty years ago, under the current administration.<\/p>\n<p>A statement released by the group praised the clearing of the backlog of cash call arrears owed international oil companies inherited from past administrations amounting to five billion dollars and the completion of the Escravos-Lagos pipeline system phase 2, doubling its capacity to over two billion cubic feet of gas.<\/p>\n<p>It added that\u00a0 the commencement of construction of the Ajaokuta-Kaduna-Kano AKK Gas Pipeline, Nigeria\u2019s biggest ever domestic gas pipeline project in addition to the total revamp of the Port Harcourt refinery was another jinx being broken.<\/p>\n<p>&#8221; During that period, he laid substantial groundwork for the national infrastructure that helped develop the industry \u2013 pipelines, refineries, depots, etc, and helped midwife the vision for a Liquefied Natural Gas plant.<\/p>\n<p>&#8221; Forty years later, the task has fallen upon him again to spearhead unparalleled reforms in the Corporation he helped establish. Under the President\u2019s watch, since 2015, the National Oil Company has achieved the following, and more\u201d, to the group claimed in a statement released in Abuja.<\/p>\n<p>&#8221; Published Audited Financial Statements for 2018, 2019 and 2020. This is the first published Audited Financial Statements since the NNPC came into existence 43 years ago.<\/p>\n<p>\u201cCommenced clearing the backlog of Cash Call arrears owed International Oil Companies (IOCs), inherited from previous administrations, and amounting to more than five billion dollars. Completed the Escravos-Lagos Pipeline System (ELPS) Phase 2, doubling its capacity to 2.2 billion cubic feet of gas\u201d.<\/p>\n<p>The group also cited other giant achievements in the Oil and gas sector to include the resolution of the 12-year oil licence dispute, unlocking over 10billion dollars investment opportunities, particularly, the president\u2019s assent to the Petroleum Industry Bill into law after two decades of unsuccessful attempts.<\/p>\n<p>They explained that the unprecedented reforms spoke to the President\u2019s promise to bring long term efficiency and transparency in the management of Nigeria\u2019s oil and gas resources and place it on the path of the world-class industry for the good of the country.<\/p>\n<div id=\"m_-2058789532871418690ymail_android_signature\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>President Muhammadu Buhari has been credited with the rejuvenation of the oil and gas sector after decades of weak operation, the All Progressives Congress, Legacy Awareness and Campaign (APC-LAC) has&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":82534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-87237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Oil And Gas: Buhari Rejuvenating Sector After Years Of Weak Operation - APC Think-tank\u00a0\u00a0 - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/oil-and-gas-buhari-rejuvenating-sector-after-years-of-weak-operation-apc-think-tank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil And Gas: Buhari Rejuvenating Sector After Years Of Weak Operation - APC Think-tank\u00a0\u00a0 - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"President Muhammadu Buhari has been credited with the rejuvenation of the oil and gas sector after decades of weak operation, the All Progressives Congress, Legacy Awareness and Campaign (APC-LAC) has&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/news\/oil-and-gas-buhari-rejuvenating-sector-after-years-of-weak-operation-apc-think-tank\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-20T05:40:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/06\/President-Buhari.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"481\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/oil-and-gas-buhari-rejuvenating-sector-after-years-of-weak-operation-apc-think-tank\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/oil-and-gas-buhari-rejuvenating-sector-after-years-of-weak-operation-apc-think-tank\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"Oil And Gas: Buhari Rejuvenating Sector After Years Of Weak Operation &#8211; 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