• Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Facebook X (Twitter) Instagram
Saturday, June 21
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram
Oriental News Nigeria
  • Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Oriental News Nigeria
Home»Energy»Oil & Gas»NLNG Fears Dwindling Oil Price Will Hurt Gas Market
Oil & Gas

NLNG Fears Dwindling Oil Price Will Hurt Gas Market

By orientalnewsngSeptember 4, 2015No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Yemisi Izuora
NLNG
The Nigeria LNG Limited, (NLNG), has said that the low oil prices in the international market is beginning to threaten gas business.

The company therefore urged government to brace up as the situation may affect its revenue as the continuous fall in global crude oil prices may negatively put pressure on gas.

NLNG noted in a communique from the recently held third NLNG commercial division external stakeholders forum in Abuja that the fall in global oil prices would continue till the end of 2015, adding that it might worsen in the coming year.

The company, in the communique which summarised the forum, expressed worry over the impact which the fall in crude prices was having on its revenue, stressing that the entry of the United States and Australia into the LNG market was also “a real cause for concern.”

According to the communique, “The recent fall in crude oil prices from above $100/bbl ($100 per barrel) in early 2014 to below $60/bbl in early 2015 and its impact on global LNG/gas prices as well as the demand/supply positions in both our primary and secondary markets in the Atlantic and Pacific Basins have had a significant impact on our revenues and profitability.

“The trend which will persist till the end of 2015 and which may even worsen going into 2016 with the entry of US and Australian LNG volumes into the market is a real cause for worry.”

Nigeria has one of the largest gas reserves in the world and is the second largest supplier of LPG globally, supplying four million tons of the product per annum. In Nigeria, LPG is primarily used as cooking gas.

In addition, it noted that although these challenges were being managed, the regulatory environment had shown increasing uncertainties.

 

Share this:

  • Share
  • Email
  • Tweet
  • Reddit
featured NLNG Fears Dwindling Oil Price Will Hurt Gas Market
orientalnewsng

Related Posts

Gas Turbine Leaders Set For Asset Management Conference For Africa’s Power Revolution 

June 20, 2025

Nigeria Issues Framework To Track Crude Oil Export

June 19, 2025

Africa Faces Challenges Exploring Huge Gas Deposits-APPO 

June 19, 2025

Leave A Reply Cancel Reply

The latest
  • UCAMWAL Launches Two New Mutual Funds In Francophone West Africa
  • BNY Mellon, Standard Bank to Facilitate Access to Nigerian Naira Debt — Bloomberg
  • Firm Arraigned For Illegal Capital Market Operations 
  • Police Affairs Ministry Expects Positive Outcome After Personnel Performance Contract Agreement 
  • Eagle Theatre Drama Series Debut On EFCC Radio
  • Man Arraigned For Alleged  N5bn Money Laundering
  • LUTH’s Breakthrough In Bone Marrow Transplant Raises Hope On Sickle Cell Treatment
  • FG To Provide Light Rail For Kaduna State
  • Media Rights Agenda Launches Practical Guide For Media On Leveraging Digital Tools
  • NEITI To Release Policy Brief On Sub National Debt Development Financing And Nigeria Tax Reforms.
Categories
Quick Links
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Copyright © 2025 Oriental News Nigeria. All right reserved.

Type above and press Enter to search. Press Esc to cancel.