The money should be invested over the next six years, Dikki explained. The three areas of investment will be roads and railways ($33 billion), new power generation projects and the renovation of the sector’s existing infrastructure ($18 billion-20 billion) and $60 billion in the oil and gas industry to harness its full potential.
The federal government cannot shoulder this alone. Dikki called on private investors to get involved and discussed the fine-tuning of policies and legal frameworks that will incentive the private sector to invest through such legislation as the long-delayed Petroleum Industry Bill (PIB), which costs the country an estimated $287 million for every month it is not enacted into legislation.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.