Despite the campaign, led by the industrialized wikodestern countries, to make fossil fuels history in response to global warming, the role of petroleum remains significant in the global energy mix. The oil and gas industry is still the main engine of the world’s energy machine. Oil is the most widely used fuel, responsible for around a third of global energy consumption, and together with gas, accounts for about 60% of global consumption.
This is the context in which to appreciate the mandate and initiatives of the Nigerian Content Development and Monitoring Board , one of the most hardworking and impactful agencies in the oil sector, nay, the country.
NCDMB is building some ambitious targets on the solid foundation of these impressive achievements. The projection is that by 2027, Nigerian content will have increased to 70% and that $13 billion of an estimated $20 billion spent in the sector would be retained in the country.
Another significant product is the establishment of two world-class pipe mills to manufacture HSAW line pipes, which are in high demand in the industry. One is located in Abuja, the SCC Pipe-Mill with an installed capacity of 270,000 MT per annum; and the second is in Lagos, Yulong Pipe-Mill with the capacity to manufacture 400,000MT HSAW line pipes per annum.
Technology Technology Latest News, Technology Technology Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: vanguardngrnews - 🏆 5. / 75 Read more »
Source: channelstv - 🏆 7. / 63 Read more »
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: vanguardngrnews - 🏆 5. / 75 Read more »