Revd. Sola Adebawo, GM, Government, Joint Venture and External Relations, Heritage Energy, who moderated a panel discussion, receiving a plaque from Salahudeen Tahir, Nigerian Council Chairman of the Society of Petroleum Engineers.
General Manager, Government, Joint Venture and External Relations, Heritage Energy Operational Services Limited, Operator of the OML 30 Joint Venture between NNPC E & P Limited (NEPL) and Shoreline Natural Resources Limited (SNRL), Reverend Sola Adebawo, has urged operators in the oil and gas industry to find other means of transporting refined petroleum products across the country.
He said 98 per cent of refined petroleum products within Nigeria are moved by road which is basically responsible for high cost per unit volume amid safety concerns.
Rev Adebawo made the call during a panel session, which he moderated at the ongoing Nigeria Annual International Conference and Exhibition (NAICE) organised by the Society of Petroleum Engineers (Nigeria Council) in Lagos.
According to him, “there’s a need to find a solution to this,” and other challenges plaguing the sector to engender a better life for the people.
The panel, which moderated on the theme: “Unlocking Upstream Value: Developing Markets, Trade Access and Facilitating Partnerships in the Midstream and Downstream on Tuesday, featured seasoned industry professionals.
The panellists included Engineer Oluseyi Afolabi, Principal Consultant & Chief Executive Officer, Reservoir & Facilities Solutions Ltd; Babafemi Onasanya, General Manager, Subsurface, Oando Energy Resources; Dr Goodluck Enimakpokpo, the Major Strategic Accounts, Nigeria & Anglophone WA GE Venoa; Gbite Falade, MD/CEO, Aradel Holdings and Ogbugo Kalu Ukoha, Executive Director, Distribution Systems, Storage, and Retailing Infrastructure, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
They examined the crucial role of regulatory frameworks in fostering market access within the oil and gas value chain, analysed policies that streamline trade, incentivize partnerships, and cultivate an environment conducive to market growth.
The panellists also analysed how regulatory frameworks act as dynamic enablers, promoting not only efficient trade practices, but also strategic partnerships.
In their discussions, they also proffered solutions to the challenge of attracting the capital market to the regional market integration framework and that of sustainability across the value chain.
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