Page 9 - Nigeria one mag en-21

virtually and delivered a goodwill message. not here but because companies are shifting
During the prerecorded message, Barkindo than- their portfolios where they can add value and not
ked President Buhari for his influential role in just that, but where they can also add to the jour-
the organization and the global energy industry. ney towards carbon net-zero commitment. Ener-
In his remarks, he commended the Nigerian go- gy transition must have sanity and justice.” Mr.
vernment for enacting the Petroleum Industry Kyari also announced that Nigeria would increa-
Act (PIA). “This long-awaited legislation for the se its oil production as the barrel reached $106.3
oil and gas sector is bringing about the necessary on Tuesday, rising from 8.3 % to 8.47% in one
reforms designed to strengthen institutions, so- day.
lidify regulatory and fiscal frameworks and at- Key speakers discussed technology, innovation,
tract much-needed investment in a sustainable and young energy professionals extensively du-
manner.” ring the remaining days of the prestigious event.
In the opening summit, many dignitaries spoke Participants discussed the PIA and the opportu-
to clarify Nigeria’s future options. Mr. Mele Kolo nities it will present to key industry players and
Kyari, NNPC’s managing Director, addressed an host communities. The strategy that is being im-
important issue Nigeria faces, which is the de- plemented was outlined by midstream and down-
parture of oil major investors. According to him, stream leaders. On the final day of the summit,
Nigeria must utilize “friendly fuel within the next important themes were addressed, some evolved
ten years.” By doing so, it should contribute to around commercial and investment, how to un-
the commitment toward carbon net-zero while lock economic zones, maritime, and ports as
allowing the utilization of its natural resources. energy transition hubs, and the road map on the
“They are not leaving because opportunities are gas-powered economy in 2030.

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