NLNG Suffers $7bn Year-to-Date Revenue Loss Due to Gas Supply Shortages – THISDAYLIVE


•Heirs Oil & Gas’ crude production fell to 3% in Dec. 2021 

•Seplat backs FG on call for just energy transition for Africa

Peter Uzoho

The security challenge facing oil and gas companies in the country is having a heavy toll on the production and revenues of the Nigeria Liquefied Natural Gas (NLNG) Limited as it has resulted to the company losing almost $7 billion revenue so far in 2022 due to gas supply constraints.

The company’s General Manager, Production, Mr. Adeleye Falade disclosed this yesterday in Lagos, during a panel session at the 45th Nigeria International Conference and Exhibition (NAICE) 2022, with the theme: “Global Transition to Renewable and Sustainable Energy and the Future of Oil and Gas in Africa.”

Also at the session, Tony Elumelu’s Heirs Oil & Gas revealed that oil production at its Oil Mining Leases (OML) 17 dropped to three per cent in December 2021, just as Seplat Energy Plc has joined the federal government…

Source: Thisday Newspaper