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Department of Petroleum Resources

Nigeria requires $3.5bn investment to end gas flaring

… Earns N1.7trn oil revenue in 3 years

Ugo Amadi

Nigeria would need about $3.5 billion investments to activate the new market-based initiative it had set up to achieve the gas flare commercialization target by 2020. This was disclosed in the latest Department of Petroleum Resources, DPR, 2017 Nigerian Oil and Gas Industry Annual Report.

JONAS EZIEKE and EUCLID MYKE, Abuja

The House of Representatives AD-HOC Commitee on Oil Prospecting Licences (OPLs) and Oil mining Leases (OMLs), on Monday asked the Central Bank of Nigeria(CBN) to provide all relevant documents to unravel if the payments of application fees, royalties, signature bonuses and other fees were actually made by oil companies to Department of Petroleum Resources.

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