The value of Nigerian Hydrocarbon in the Global Energy Mix
According to projections from the United Nations, the world population already stands at over 7 billion – a number that could exceed 11 billion by 2100. This population increase, combined with environmental challenges, puts even greater pressure on already stretched energy resources. From today, the energy demand will only increase in geometric progression. Yet, unlike what we produce now, an urgent shift to cleaner energy is peremptory to save our ecosystem and address the increasing concerns around climate change. Thus ‘fueling’ the debate on the future of energy.
With the emergence of technology, today’s world is more connected now than ever before. Increased dialogue, trade, and travel are driving globalization rapidly. Consequentially, economies like Nigeria’s, which predominantly relies on revenue derived from oil and gas exports, must be ready and able to respond to this global shift in appetite for cleaner and renewable energy alternatives or be left behind. It is high time the Petroleum Industry in Nigeria begins to project towards the future look through a larger energy lens, where fossil fuels are part of a more comprehensive array of solutions to meet the ever-growing energy demand. The basic requirements to meet this challenge are honest and transparent discussions and decisive actions, driven by data, not emotion.
This workshop aims to define a workable path that will guide the industry and regulators to improve the quality of produced hydrocarbons to meet future energy demands amidst key players like climate change, public health, and the global oil market. Because only then will the value of our products be appreciated in the global energy mix.