Masters Energy Oil and Gas Limited is pushing for more gas availability to support the Autogas policy. They want the government to address the foreign exchange challenge that is affecting the importation and marketing of petroleum products. The company’s Executive Director, Operations, Felix Eribo, emphasized the importance of Compressed Natural Gas (CNG) in powering vehicles and highlighted the need for increased availability of CNG. He also called for charges and fees to be collected in naira instead of dollars to reduce pressure on the dollar and lower the landing cost of petroleum products. Despite the challenges, Masters Energy remains committed to making its products affordable for the masses. On the other hand, TotalEnergies is optimistic about the Final Investment Decision (FID) on UBETA OML 58 in the first quarter of 2024. This project aims to contribute to gas supply for the Nigerian Liquefied Natural Gas (NLNG) Plant and domestic gas supply. Additionally, the Federal Government has launched revised mining guidelines for the production of Community Development Agreements (CDAs) in the solid minerals sector to ensure that host communities benefit from mining operations. Oil dealers have projected a fall in fuel prices following the massive imports of Premium Motor Spirit (PMS) by the Nigerian National Petroleum Company Limited (NNPCL).
