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OEDC’s hydrocarbon policy threatens crude oil production

By Prince Okafor

Nigeria, local content

African Petroleum Producers Organization, APPO, has raised concerns over the discriminatory policies of Organization for Economic Cooperation and Development, OECD,  toward making hydrocarbons a primary energy source,  stating that such move is an attempt to sabotage crude oil production.

This is coming even as the organization described Nigeria’s local content policy as a model for other African nations.

Secretary General of APPO, Dr. Omar Ibrahim, raised this concern in Lagos, at the sub Saharan Africa International Exhibition and Conference (SAIPEC), organized by Petroleum Technology Association of Nigeria (PETAN).

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Ibrahim said: “It is regrettable that member countries of OECD had begun to initiate discriminatory policies towards hydrocarbons as primary energy sources. Such a move will discourage research and investment in the sector – actions which would eventually make fossil fuels less accessible and more expensive and position other sources of energy as viable alternatives.

“These developments are taking place at a time that Africa is making more findings in oil and gas, hence making it imperative for African nations to take their destinies into their our own hands and pursue the development of local capacities to operate the oil industry successfully and use energy to fuel the national, sub-regional or continental economies.”

Making a case for collaboration, Executive Secretary, NCDMB, Engr. Simbi Wabote, said that the increasing discovery of hydrocarbon resources in Sub-Saharan Africa is sufficient motivation for governments and operators to collaborate.

He said such collaborations can be deployed using infrastructure development, legal framework, trade agreements, human capital mobility, common industry standards, supply chain development, finance beyond borders to achieve local content practices on a wider scale.

The post OEDC’s hydrocarbon policy threatens crude oil production appeared first on Vanguard News.


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