Nigerian National Petroleum Company (NNPC) Limited, Petroleum Training Institute (PTI) and other stakeholders are considering locally-made technology to mitigate climate change and growing divestment in the nation’s oil and gas sector.
Funding for fossil fuels is under attack, as financial institutions are no longer willing to finance projects that trigger climate change challenges. Countries like Nigeria, which dominantly rely on oil and gas, are, therefore, in trouble, even as International Oil Companies (IOCs) operating in the country are drastically divesting.
Speaking at the PTI’s 50th anniversary in Abuja, Group Chief Executive Officer of NNPC, Mele Kyari, stated that unless the industry collaborates in terms of technological development, solving the country’s high energy cost and poverty would remain a mirage.
Kyari, who was urging industry players to finance the development of local technologies, noted that pervasive oil theft in the country could also be addressed with in-country technological solutions.
Acknowledging the rapid changes in the energy sector globally, the NNPC boss feared the country could be left behind without strategic plan to respond to the dynamics, stressing that Nigeria needed cleaner energy like methanol.
Kyari said as much as the country needs to harness existing natural resources, it remained sacrosanct to reduce carbon emissions.
He submitted: “More than anything, we must deliver energy to our people. It is very sad not just in this country, but the whole of Sub Saharan African countries, we must therefore turn to innovation and technology.
“Apart from oil, the country needs chemicals, ammonia, methanol and so on.”
Kyari said shifting into technology big would create efficiency besides Nigeria getting value and catching up with opportunities.
He stressed that an industry-wide collaboration was necessary to progress in the oil sector, adding that there must be deliberate focus on research and innovation.
Principal/Chief Executive, PTI, Dr. Henry Adimula, maintained that Africa must not hasten to abandon fossil fuel, but should strive to deepen research and development of local technologies to maximise exploitation and benefits of oil and gas endowments.
He said the country needs to achieve some independence in the design and production of technology for the oil industry, as well as alternative and renewable energy sources and off grid solar contraptions in anticipation of the global energy transitions.
SOurce: Guardian.ng